InMode (INMD) Advances While Market Declines: Some Information for Investors
In the latest market close, InMode (INMD) reached $21.01, with a +0.05% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.34% for the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.
The maker of cosmetic surgery devices's stock has dropped by 1.22% in the past month, falling short of the Medical sector's gain of 5.72% and the S&P 500's gain of 2.56%.
Investors will be eagerly watching for the performance of InMode in its upcoming earnings disclosure. The company is expected to report EPS of $0.62, down 20.51% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $125.5 million, showing a 6.04% drop compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for InMode. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.94% decrease. As of now, InMode holds a Zacks Rank of #4 (Sell).
Digging into valuation, InMode currently has a Forward P/E ratio of 7.95. This signifies a discount in comparison to the average Forward P/E of 21.1 for its industry.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
