InMode (INMD - Free Report) closed at $21.88 in the latest trading session, marking a +1.44% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the maker of cosmetic surgery devices witnessed a loss of 5.97% over the previous month, trailing the performance of the Medical sector with its gain of 3.8% and the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of InMode in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. The company is predicted to post an EPS of $0.62, indicating a 20.51% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.5 million, down 6.04% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for InMode. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.02% downward. InMode is currently a Zacks Rank #5 (Strong Sell).
From a valuation perspective, InMode is currently exchanging hands at a Forward P/E ratio of 8.39. This signifies a discount in comparison to the average Forward P/E of 20.7 for its industry.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
InMode (INMD - Free Report) closed at $21.88 in the latest trading session, marking a +1.44% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the maker of cosmetic surgery devices witnessed a loss of 5.97% over the previous month, trailing the performance of the Medical sector with its gain of 3.8% and the S&P 500's gain of 1.2%.
Analysts and investors alike will be keeping a close eye on the performance of InMode in its upcoming earnings disclosure. The company's earnings report is set to go public on February 13, 2024. The company is predicted to post an EPS of $0.62, indicating a 20.51% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.5 million, down 6.04% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for InMode. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.02% downward. InMode is currently a Zacks Rank #5 (Strong Sell).
From a valuation perspective, InMode is currently exchanging hands at a Forward P/E ratio of 8.39. This signifies a discount in comparison to the average Forward P/E of 20.7 for its industry.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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