In the latest trading session, InMode (INMD) closed at $42.81, marking a -0.23% move from the previous day. This change was narrower than the S&P 500's 0.54% loss on the day. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 0.54%.
Prior to today's trading, shares of the maker of cosmetic surgery devices had gained 4.07% over the past month. This has outpaced the Medical sector's gain of 3.4% and the S&P 500's gain of 3.22% in that time.
Investors will be hoping for strength from INMD as it approaches its next earnings release, which is expected to be February 18, 2020.
It is also important to note the recent changes to analyst estimates for INMD. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. INMD is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, INMD currently has a Forward P/E ratio of 24.38. Its industry sports an average Forward P/E of 27.86, so we one might conclude that INMD is trading at a discount comparatively.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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InMode Ltd. (INMD) : Free Stock Analysis Report
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