InMode (NASDAQ:INMD) Sets New 52-Week Low – Here’s What Happened

Shares of InMode Ltd. (NASDAQ:INMD) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.56 and last traded at $14.62, with a volume of 173240 shares traded. The stock had previously closed at $15.71.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on INMD shares. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, InMode presently has a consensus rating of “Hold” and a consensus price target of $22.25.

InMode Stock Performance

The firm has a 50-day moving average price of $18.33 and a two-hundred day moving average price of $17.78. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 6.50 and a beta of 1.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in InMode by 113.5% during the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after acquiring an additional 90,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in InMode by 54.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after purchasing an additional 44,058 shares during the period. State Street Corp lifted its holdings in shares of InMode by 3.7% during the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after acquiring an additional 73,183 shares during the period. Atlas Legacy Advisors LLC bought a new position in InMode in the 4th quarter valued at $848,000. Finally, Holocene Advisors LP bought a new position in InMode in the third quarter valued at approximately $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.