InMode (INMD) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, InMode (INMD) closed at $39.49, marking a +1.02% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.18%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Heading into today, shares of the maker of cosmetic surgery devices had lost 9.09% over the past month, lagging the Medical sector's loss of 0.91% and the S&P 500's loss of 1.63% in that time.
Investors will be hoping for strength from InMode as it approaches its next earnings release. In that report, analysts expect InMode to post earnings of $0.69 per share. This would mark year-over-year growth of 4.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $140.1 million, up 15.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $541.1 million, which would represent changes of +12.4% and +19.11%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for InMode. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. InMode currently has a Zacks Rank of #2 (Buy).
In terms of valuation, InMode is currently trading at a Forward P/E ratio of 14.73. This represents a discount compared to its industry's average Forward P/E of 22.4.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow INMD in the coming trading sessions, be sure to utilize Zacks.com.
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InMode Ltd. (INMD) : Free Stock Analysis Report
