Why InMode (INMD) Dipped More Than Broader Market Today
In the latest trading session, InMode (INMD) closed at $20.91, marking a -1.97% move from the previous day. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow experienced a drop of 0.49%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
The maker of cosmetic surgery devices's stock has dropped by 10.27% in the past month, falling short of the Medical sector's gain of 1.98% and the S&P 500's gain of 3.27%.
Investors will be eagerly watching for the performance of InMode in its upcoming earnings disclosure. On that day, InMode is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 1.92%. Our most recent consensus estimate is calling for quarterly revenue of $104.3 million, down 1.67% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $500.8 million. These totals would mark changes of -0.39% and +1.78%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for InMode. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. InMode is currently a Zacks Rank #3 (Hold).
Looking at valuation, InMode is presently trading at a Forward P/E ratio of 8.33. This denotes a discount relative to the industry's average Forward P/E of 20.8.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 144, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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InMode Ltd. (INMD) : Free Stock Analysis Report
