InMode (NASDAQ:INMD) Sets New 12-Month Low – Should You Sell?

InMode Ltd. (NASDAQ:INMD)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.17 and last traded at $15.18, with a volume of 1564329 shares. The stock had previously closed at $15.44.

Analysts Set New Price Targets

INMD has been the subject of a number of research analyst reports. Barclays decreased their target price on InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Canaccord Genuity Group decreased their price objective on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Finally, Jefferies Financial Group downgraded shares of InMode from a “buy” rating to a “hold” rating and cut their target price for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.40.

InMode Trading Down 1.7 %

The company has a 50-day moving average price of $16.53 and a 200 day moving average price of $17.82. The stock has a market capitalization of $1.27 billion, a P/E ratio of 7.22 and a beta of 2.17.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $104.81 million. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. As a group, research analysts expect that InMode Ltd. will post 1.63 earnings per share for the current year.

Institutional Trading of InMode

Institutional investors have recently made changes to their positions in the business. Asset Dedication LLC acquired a new position in InMode during the 2nd quarter valued at approximately $33,000. Headlands Technologies LLC increased its position in shares of InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares during the period. nVerses Capital LLC acquired a new position in shares of InMode in the 2nd quarter valued at $42,000. Trust Co. of Vermont raised its stake in InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after acquiring an additional 536 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in InMode by 69.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

About InMode

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.