InMode (NASDAQ:INMD) Stock Price Down 3.5% – What’s Next?

InMode Ltd. (NASDAQ:INMD) shares traded down 3.5% during trading on Friday . The company traded as low as $17.83 and last traded at $17.81. 216,123 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 948,180 shares. The stock had previously closed at $18.46.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price objective on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Three investment 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, InMode currently has an average rating of “Hold” and an average target price of $22.25.

InMode Price Performance

The business has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $17.61. The stock has a market cap of $1.27 billion, a PE ratio of 7.79 and a beta of 2.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INMD. National Bank of Canada FI raised its position in shares of InMode by 6.2% in the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after purchasing an additional 579 shares during the period. Strategic Global Advisors LLC raised its position in shares of InMode by 3.0% in the fourth quarter. Strategic Global Advisors LLC now owns 20,744 shares of the healthcare company’s stock valued at $346,000 after purchasing an additional 604 shares during the period. Harvey Capital Management Inc. increased its position in InMode by 1.4% during the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock worth $860,000 after acquiring an additional 700 shares during the period. Thrivent Financial for Lutherans increased its position in InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company’s stock worth $210,000 after acquiring an additional 721 shares during the period. Finally, Covestor Ltd increased its position in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after acquiring an additional 723 shares during the period. Hedge funds and other 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.