InMode (NASDAQ:INMD) Sets New 52-Week Low at $16.72

Shares of InMode Ltd. (NASDAQ:INMD) reached a new 52-week low on Thursday . The stock traded as low as $16.72 and last traded at $17.01, with a volume of 535247 shares changing hands. The stock had previously closed at $17.24.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Friday. Barclays lowered their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, UBS Group upped their price objective on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, InMode presently has a consensus rating of “Hold” and an average target price of $32.80.

InMode Trading Up 1.6 %

The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.36 and a beta of 2.20. The firm has a fifty day moving average price of $19.99 and a 200 day moving average price of $21.37.

InMode (NASDAQ:INMD) last announced its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million for the quarter, compared to the consensus estimate of $124.77 million. InMode had a return on equity of 27.66% and a net margin of 38.84%. InMode’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 EPS. As a group, equities analysts predict that InMode Ltd. will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in InMode by 161.1% during the 1st quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock worth $7,853,000 after buying an additional 223,191 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of InMode by 3.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900,831 shares of the healthcare company’s stock valued at $19,467,000 after purchasing an additional 29,519 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of InMode by 9.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after purchasing an additional 691 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of InMode by 7.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 75,784 shares of the healthcare company’s stock valued at $1,638,000 after purchasing an additional 5,385 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of InMode in the 1st quarter valued at $1,853,000. 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.