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Is InMode (INMD) Outperforming Other Medical Stocks This Year?

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Zacks Equity Research
·2 min read
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is InMode (INMD) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.

InMode is a member of our Medical group, which includes 927 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. INMD is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for INMD's full-year earnings has moved 42.31% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that INMD has returned about 7.30% since the start of the calendar year. In comparison, Medical companies have returned an average of 5.53%. As we can see, InMode is performing better than its sector in the calendar year.

Looking more specifically, INMD belongs to the Medical - Products industry, a group that includes 79 individual stocks and currently sits at #122 in the Zacks Industry Rank. This group has gained an average of 2.53% so far this year, so INMD is performing better in this area.

Investors with an interest in Medical stocks should continue to track INMD. The stock will be looking to continue its solid performance.


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