InMode (INMD) closed at $21.98 in the latest trading session, marking a -0.86% move from the prior day. This change lagged the S&P 500’s daily loss of 0.16%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today’s trading, shares of the maker of cosmetic surgery devices had lost 19.62% over the past month. This has lagged the Medical sector’s loss of 8.16% and the S&P 500’s loss of 10.5% in that time.
Investors will be hoping for strength from INMD as it approaches its next earnings release
INMD’s full-year Zacks Consensus Estimates are calling for earnings of $1.86 per share and revenue of $194.79 million. These results would represent year-over-year changes of +14.11% and +24.58%, respectively.
Investors should also note any recent changes to analyst estimates for INMD. 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.
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. INMD is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, INMD is holding a Forward P/E ratio of 11.92. This valuation marks a discount compared to its industry’s average Forward P/E of 24.63.