InMode (INMD) Exceeds Market Returns: Some Facts to Consider
The latest trading session saw InMode (INMD) ending at $22.54, denoting a +0.18% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.04%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the maker of cosmetic surgery devices had lost 5.46% over the past month, lagging the Medical sector's gain of 5.57% and the S&P 500's gain of 5.28% in that time.
The investment community will be paying close attention to the earnings performance of InMode in its upcoming release. The company is forecasted to report an EPS of $0.62, showcasing a 20.51% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $125.5 million, indicating a 6.04% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.48 per share and a revenue of $490.8 million, indicating changes of +2.48% and +8.04%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for InMode. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 3.95% lower. As of now, InMode holds a Zacks Rank of #4 (Sell).
In terms of valuation, InMode is currently trading at a Forward P/E ratio of 9.07. This indicates a discount in contrast to its industry's Forward P/E of 22.64.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
