InMode (INMD) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, InMode (INMD) closed at $22.99, marking a -0.35% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
The maker of cosmetic surgery devices's shares have seen an increase of 1.54% over the last month, not keeping up with the Medical sector's gain of 2.29% and the S&P 500's gain of 2.08%.
Investors will be eagerly watching for the performance of InMode in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 13, 2024. The company's earnings per share (EPS) are projected to be $0.68, reflecting a 12.82% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $126.2 million, indicating a 5.52% decline compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for InMode. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.02% lower. InMode is currently sporting a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, InMode is currently exchanging hands at a Forward P/E ratio of 8.98. Its industry sports an average Forward P/E of 20.75, so one might conclude that InMode is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
