Yahoo Finance InMode (INMD) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, InMode (INMD) closed at $21.23, marking a -0.05% move from the previous day. This move lagged the S&P 500's daily gain of 0.32%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.
Coming into today, shares of the maker of cosmetic surgery devices had gained 1.92% in the past month. In that same time, the Medical sector gained 0.88%, while the S&P 500 gained 5.11%.
The investment community will be paying close attention to the earnings performance of InMode in its upcoming release. The company is forecasted to report an EPS of $0.53, showcasing a 1.92% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $104.3 million, showing a 1.67% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.56 per share and a revenue of $500.8 million, demonstrating changes of -0.39% and +1.78%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for InMode. 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.
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.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. InMode is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, InMode is presently being traded at a Forward P/E ratio of 8.3. For comparison, its industry has an average Forward P/E of 20.59, which means InMode is trading at a discount to the group.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
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
