InMode (NASDAQ:INMD) Shares Gap Down to $16.95

Shares of InMode Ltd. (NASDAQ:INMD) gapped down prior to trading on Tuesday . The stock had previously closed at $16.95, but opened at $16.14. InMode shares last traded at $15.87, with a volume of 160,949 shares changing hands.

Analyst Ratings Changes

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

InMode Trading Down 9.3 %

The company has a 50 day moving average of $16.62 and a 200 day moving average of $17.88. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 7.32 and a beta of 2.17.

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

Institutional Trading of InMode

Several hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC bought a new stake in shares of InMode during the second quarter worth $33,000. Headlands Technologies LLC increased its holdings in InMode by 118.2% during the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after purchasing an additional 1,038 shares in the last quarter. nVerses Capital LLC bought a new position in InMode during the 2nd quarter worth about $42,000. Trust Co. of Vermont raised its stake in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after purchasing an additional 536 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after purchasing an additional 900 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Company Profile

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.