InMode (INMD) Outperforms Broader Market: What You Need to Know
In the latest market close, InMode (INMD) reached $21.37, with a +1.96% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 1.41%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 2.2%.
The the stock of maker of cosmetic surgery devices has fallen by 3.59% in the past month, lagging the Medical sector's gain of 6.57% and the S&P 500's gain of 2.9%.
Market participants will be closely following the financial results of InMode in its upcoming release. On that day, InMode is projected to report earnings of $0.62 per share, which would represent a year-over-year decline of 20.51%. Meanwhile, our latest consensus estimate is calling for revenue of $125.5 million, down 6.04% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for InMode. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 7.94% lower. Right now, InMode possesses a Zacks Rank of #5 (Strong Sell).
Looking at valuation, InMode is presently trading at a Forward P/E ratio of 7.94. This expresses a discount compared to the average Forward P/E of 21.31 of its industry.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 27% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
