InMode (NASDAQ:INMD) Shares Gap Down to $17.75

InMode Ltd. (NASDAQ:INMD) shares gapped down before the market opened on Tuesday . The stock had previously closed at $17.75, but opened at $17.01. InMode shares last traded at $17.43, with a volume of 255,935 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Canaccord Genuity Group dropped their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group downgraded 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 research note on Tuesday. Finally, Barclays decreased their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.83.

InMode Price Performance

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.41 and a beta of 2.18. The firm’s fifty day moving average is $18.22 and its 200-day moving average is $20.01.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. InMode had a net margin of 38.84% and a return on equity of 26.15%. The company had revenue of $80.28 million for the quarter, compared to analysts’ expectations of $80.10 million. On average, sell-side analysts expect that InMode Ltd. will post 1.5 EPS for the current year.

Hedge Funds Weigh In On InMode

A number of institutional investors and hedge funds have recently bought and sold shares of INMD. Principal Securities Inc. bought a new position in shares of InMode during the 4th quarter valued at about $32,000. Headlands Technologies LLC boosted its holdings in shares of InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after buying an additional 1,038 shares during the period. Trust Co. of Vermont boosted its holdings in shares of InMode by 32.8% in the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after buying an additional 900 shares during the period. Finally, CWM LLC boosted its holdings in shares of InMode by 38.3% in the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after buying an additional 680 shares during the period. Institutional investors 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.