Bear markets are never fun. Keeping with this theme, the 2022 bear market has created a slew of attractive buying opportunities. Cosmetic surgery company InMode (NASDAQ: INMD), Swiss pharma giant Novartis (NYSE: NVS), and diabetes care behemoth DexCom (NASDAQ: DXCM) are three highly profitable companies that have been unfairly punished by this irrational market.
The popularity of cosmetic procedures is unquestionably on the rise. Major pharmaceutical AbbVie (NYSE: ABBV) is plagued by concerns about the impending patent cliff on its top-selling drug. At the same time, healthcare equipment provider InMode (NASDAQ: INMD) has been punished by Wall Street's current skepticism about growth stocks.
Shareholders of medical technology company InMode (NASDAQ: INMD) have not had a great 2022; the stock has fallen roughly 50% since the beginning of the year. Here are three reasons to consider InMode as a long-term growth stock for your portfolio. InMode designs and builds non-invasive medical equipment for cosmetic procedures like face and body contouring, hair removal, and women's wellness.