InMode (INMD) Stock Declines While Market Improves: Some Information for Investors
InMode (INMD) closed the latest trading day at $22.72, indicating a -1.17% change from the previous session's end. This change lagged the S&P 500's 0.08% gain on the day. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Coming into today, shares of the maker of cosmetic surgery devices had lost 0.04% in the past month. In that same time, the Medical sector gained 2.16%, while the S&P 500 gained 2.4%.
The upcoming earnings release of InMode will be of great interest to investors. The company's earnings report is expected on February 13, 2024. On that day, InMode is projected to report earnings of $0.68 per share, which would represent a year-over-year decline of 12.82%. Alongside, our most recent consensus estimate is anticipating revenue of $126.2 million, indicating a 5.52% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for InMode. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.02% lower. As of now, InMode holds a Zacks Rank of #5 (Strong Sell).
In the context of valuation, InMode is at present trading with a Forward P/E ratio of 8.95. For comparison, its industry has an average Forward P/E of 20.85, which means InMode is trading at a discount to the group.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
