InMode (NASDAQ:INMD) Shares Down 3.1%

InMode Ltd. (NASDAQ:INMD) shares were down 3.1% on Thursday . The company traded as low as $16.36 and last traded at $16.38. Approximately 280,421 shares traded hands during trading, a decline of 80% from the average daily volume of 1,373,622 shares. The stock had previously closed at $16.90.

Wall Street Analyst Weigh In

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

InMode Trading Up 1.7 %

The firm has a 50 day moving average price of $16.78 and a 200-day moving average price of $18.33. The firm has a market cap of $1.43 billion, a PE ratio of 8.08 and a beta of 2.17.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Securities Inc. purchased a new stake in InMode during the fourth quarter worth approximately $32,000. Asset Dedication LLC acquired a new position in shares of InMode in the 2nd quarter valued at $33,000. Headlands Technologies LLC grew 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 buying an additional 1,038 shares during the last quarter. nVerses Capital LLC acquired a new stake in InMode during the 2nd quarter worth $42,000. Finally, Trust Co. of Vermont lifted its position in InMode by 32.8% in the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the last quarter. 68.04% of the stock is 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.