InMode (NASDAQ:INMD) Reaches New 12-Month Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on INMD. Barclays raised their price target on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, InMode has a consensus rating of “Hold” and an average price target of $22.25.

InMode Price Performance

The company has a market cap of $1.06 billion, a P/E ratio of 6.50 and a beta of 1.96. The stock has a fifty day moving average price of $18.33 and a two-hundred day moving average price of $17.78.

Institutional Investors Weigh In On InMode

Several hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new position in shares of InMode during the 4th quarter worth about $2,246,000. Orion Capital Management LLC acquired a new stake in shares of InMode during the fourth quarter worth about $65,000. PharVision Advisers LLC bought a new position in InMode in the fourth quarter valued at approximately $535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of InMode by 16.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,709 shares of the healthcare company’s stock valued at $2,450,000 after purchasing an additional 21,229 shares during the period. Finally, Twinbeech Capital LP bought a new position in shares of InMode during the fourth quarter worth about $329,000. 68.04% of the stock is owned by hedge funds and other 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.