InMode (NASDAQ:INMD) Shares Down 5% – Should You Sell?

InMode Ltd. (NASDAQ:INMD)’s share price traded down 5% during mid-day trading on Thursday . The company traded as low as $18.42 and last traded at $18.43. 207,798 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,319,562 shares. The stock had previously closed at $19.40.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on INMD shares. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. BTIG Research started coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Finally, Barclays reduced their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.60.

InMode Trading Up 0.1 %

The firm has a market capitalization of $1.52 billion, a P/E ratio of 9.80 and a beta of 2.07. The company has a 50 day simple moving average of $17.81 and a two-hundred day simple moving average of $17.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of InMode by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock valued at $292,000 after acquiring an additional 768 shares during the last quarter. Tidal Investments LLC increased its stake in InMode by 4.6% in the third quarter. Tidal Investments LLC now owns 71,039 shares of the healthcare company’s stock worth $1,204,000 after purchasing an additional 3,140 shares during the period. Virtu Financial LLC purchased a new stake in InMode in the third quarter worth $219,000. Geode Capital Management LLC increased its stake in InMode by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,101,951 shares of the healthcare company’s stock worth $18,678,000 after purchasing an additional 6,282 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in InMode by 0.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 808,149 shares of the healthcare company’s stock worth $13,698,000 after purchasing an additional 3,191 shares during the period. 68.04% of the stock is currently owned by 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.