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

InMode Ltd. (NASDAQ:INMD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.40, but opened at $15.70. InMode shares last traded at $16.08, with a volume of 638,963 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 31st. BTIG Research initiated coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Barclays dropped their target price on InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday. 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 currently has an average rating of “Hold” and an average price target of $22.40.

InMode Stock Down 0.6 %

The company has a fifty day moving average price of $18.09 and a 200 day moving average price of $17.32. The stock has a market cap of $1.34 billion, a PE ratio of 8.60 and a beta of 2.12.

Institutional Investors Weigh In On InMode

Institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP increased its position in InMode by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after purchasing an additional 115,492 shares during the period. Barclays PLC increased its position in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after buying an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of InMode by 54.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after buying an additional 44,058 shares during the period. Hsbc Holdings PLC raised its stake in InMode by 129.7% in the second quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock worth $1,659,000 after buying an additional 50,974 shares in the last quarter. Finally, State Street Corp lifted its holdings in InMode by 3.7% in the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares during the period. 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.