InMode (NASDAQ:INMD) Trading Down 5% – Here’s Why

InMode Ltd. (NASDAQ:INMD)’s share price fell 5% during mid-day trading on Monday . The stock traded as low as $17.11 and last traded at $17.11. 486,500 shares traded hands during trading, a decline of 64% from the average session volume of 1,334,305 shares. The stock had previously closed at $18.01.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INMD. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Thursday, October 31st. Barclays decreased their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and reduced their price objective for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.60.

InMode Stock Performance

The firm has a market capitalization of $1.50 billion, a PE ratio of 9.74 and a beta of 2.15. The business’s 50 day moving average is $17.23 and its two-hundred day moving average is $17.45.

Institutional Trading of InMode

Institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC bought a new stake in shares of InMode during the second quarter valued at about $33,000. nVerses Capital LLC bought a new stake in shares of InMode during the 2nd quarter valued at about $42,000. Nisa Investment Advisors LLC grew its holdings in shares of InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares in the last quarter. Quarry LP increased its position in shares of InMode by 154.3% in the third quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after purchasing an additional 2,294 shares during the last quarter. Finally, EMC Capital Management purchased a new stake in InMode in the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

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.