InMode (INMD) Registers a Bigger Fall Than the Market: Important Facts to Note
InMode (INMD) ended the recent trading session at $21.23, demonstrating a -0.42% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the maker of cosmetic surgery devices had lost 37.13% over the past month. This has lagged the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6% in that time.
The investment community will be paying close attention to the earnings performance of InMode in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. The company's upcoming EPS is projected at $0.60, signifying a 9.09% drop 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $509.2 million, which would represent changes of +5.37% and +12.09%, respectively, from the prior year.
Any recent changes to analyst estimates for InMode should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.94% lower. As of now, InMode holds a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that InMode has a Forward P/E ratio of 8.36 right now. This signifies a discount in comparison to the average Forward P/E of 18.64 for its industry.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.
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
