InMode (NASDAQ:INMD) Shares Gap Down – Here’s Why

InMode Ltd. (NASDAQ:INMD) shares gapped down before the market opened on Friday . The stock had previously closed at $19.05, but opened at $18.48. InMode shares last traded at $18.95, with a volume of 265,221 shares trading hands.

Analyst Upgrades and Downgrades

INMD has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays boosted their price target on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.25.

InMode Price Performance

The company has a fifty day moving average of $17.35 and a two-hundred day moving average of $17.24. The stock has a market capitalization of $1.31 billion, a P/E ratio of 8.00 and a beta of 2.13.

Hedge Funds Weigh In On InMode

Several large investors have recently added to or reduced their stakes in INMD. River Road Asset Management LLC acquired a new stake in shares of InMode during the fourth quarter worth $8,572,000. Norges Bank acquired a new stake in InMode during the fourth quarter worth about $2,943,000. Seizert Capital Partners LLC lifted its holdings in InMode by 105.2% in the fourth quarter. Seizert Capital Partners LLC now owns 250,627 shares of the healthcare company’s stock worth $4,185,000 after acquiring an additional 128,483 shares during the last quarter. Systematic Financial Management LP boosted its stake in InMode by 13.3% in the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after acquiring an additional 115,492 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of InMode by 17.0% during the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company’s stock valued at $10,991,000 after purchasing an additional 95,652 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

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.