InMode (INMD) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest market close, InMode (INMD) reached $19.13, with a -0.62% movement compared to the previous day. This change lagged the S&P 500's 0.48% loss on the day. Meanwhile, the Dow lost 1.12%, and the Nasdaq, a tech-heavy index, added 0.38%.
The maker of cosmetic surgery devices's shares have seen a decrease of 37.8% over the last month, not keeping up with the Medical sector's loss of 5.4% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of InMode in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $0.60, marking a 9.09% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $123 million, reflecting a 1.46% rise from the equivalent quarter last year.
INMD's full-year Zacks Consensus Estimates are calling for earnings of $2.55 per share and revenue of $509.2 million. These results would represent year-over-year changes of +5.37% and +12.09%, respectively.
Investors should also note any recent changes to analyst estimates 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 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 6.94% lower. InMode is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, InMode is currently trading at a Forward P/E ratio of 7.55. This represents a discount compared to its industry's average Forward P/E of 17.65.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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InMode Ltd. (INMD) : Free Stock Analysis Report
