InMode (INMD) Stock Moves -0.81%: What You Should Know
InMode (INMD) ended the recent trading session at $19.70, demonstrating a -0.81% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.26%. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Shares of the maker of cosmetic surgery devices have depreciated by 38.42% over the course of the past month, underperforming the Medical sector's loss of 4.83% and the S&P 500's loss of 3.67%.
Market participants will be closely following the financial results of InMode in its upcoming release. The company plans to announce its earnings on November 2, 2023. On that day, InMode is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 9.09%. In the meantime, our current consensus estimate forecasts the revenue to be $123 million, indicating a 1.46% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.55 per share and a revenue of $509.2 million, signifying shifts of +5.37% and +12.09%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for InMode. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 6.94% fall in the Zacks Consensus EPS estimate. InMode is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, InMode is holding a Forward P/E ratio of 7.79. This represents a discount compared to its industry's average Forward P/E of 18.58.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 143, finds itself in the bottom 44% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
