InMode (INMD) Stock Sinks As Market Gains: What You Should Know
InMode (INMD) closed at $37.91 in the latest trading session, marking a -0.73% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.22%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the maker of cosmetic surgery devices had lost 6.14% over the past month. This has lagged the Medical sector's gain of 1.74% and the S&P 500's loss of 1.27% in that time.
Wall Street will be looking for positivity from InMode as it approaches its next earnings report date. The company is expected to report EPS of $0.69, up 4.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $140.1 million, up 15.57% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.72 per share and revenue of $541.1 million. These totals would mark changes of +12.4% and +19.11%, respectively, from last year.
Any recent changes to analyst estimates for InMode should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. InMode currently has a Zacks Rank of #2 (Buy).
Digging into valuation, InMode currently has a Forward P/E ratio of 14.04. For comparison, its industry has an average Forward P/E of 20.12, which means InMode is trading at a discount to the group.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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
