InMode (INMD) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw InMode (INMD) ending at $24.03, denoting a -0.99% adjustment from its last day's close. This change lagged the S&P 500's 0.06% loss on the day. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.76%.
Shares of the maker of cosmetic surgery devices have appreciated by 9.13% over the course of the past month, outperforming the Medical sector's gain of 1.65% and the S&P 500's gain of 3.36%.
Market participants will be closely following the financial results of InMode in its upcoming release. The company plans to announce its earnings on February 13, 2024. It is anticipated that the company will report an EPS of $0.68, marking a 12.82% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $126.2 million, reflecting a 5.52% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for InMode. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.02% lower. Currently, InMode is carrying a Zacks Rank of #5 (Strong Sell).
Digging into valuation, InMode currently has a Forward P/E ratio of 9.44. This indicates a discount in contrast to its industry's Forward P/E of 20.93.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
InMode Ltd. (INMD) : Free Stock Analysis Report
