In the latest trading session, InMode (INMD) closed at $33.07, marking a -1.96% move from the previous day. This change lagged the S&P 500's 0.94% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 1.53%.
Heading into today, shares of the maker of cosmetic surgery devices had lost 10.77% over the past month, lagging the Medical sector's loss of 0.55% and the S&P 500's gain of 1.85% in that time.
Investors will be hoping for strength from InMode as it approaches its next earnings release. In that report, analysts expect InMode to post earnings of $0.69 per share. This would mark year-over-year growth of 4.55%. Meanwhile, our latest consensus estimate is calling for revenue of $140.1 million, up 15.57% from the prior-year quarter.
INMD's full-year Zacks Consensus Estimates are calling for earnings of $2.72 per share and revenue of $541.1 million. These results would represent year-over-year changes of +12.4% and +19.11%, respectively.
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. 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.
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, the Zacks Consensus EPS estimate remained stagnant. InMode is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, InMode currently has a Forward P/E ratio of 12.4. This valuation marks a discount compared to its industry's average Forward P/E of 19.09.
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.
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