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InMode (INMD) to Report Q1 Earnings: What's in the Offing?
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InMode Ltd. (INMD - Free Report) is set to report first-quarter 2021 results on May 5, before market open.
In the last-reported quarter, the company’s earnings of 94 cents surpassed the Zacks Consensus Estimate by 54.1%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on three occasions and missed the same in one, the average beat being 131.89%.
Let's take a look at how things have shaped up prior to this announcement.
Factors at Play
Through the past few months, InMode has been registering revenue rebound, leveraging on growing demand for its minimally-invasive and hands-free proprietary electrosurgical bipolar radio-frequency (“RF”) platforms, which are becoming the standard of care for a variety of surgical procedures. Given the gradual easing of pandemic-induced restrictions and robust demand for the RF technology, this trend is likely to have continued during the first quarter as well, thus driving the top line.
The company, during its last update in February 2021, highlighted the strong market rollout of its newly-launched products. These devices, being hands-free, enable social distancing and allow physicians to provide effective treatments. Given the continued spread of the pandemic along with social-distancing norms, these devices are expected to keep witnessing robust customer adoption. These device sales are likely to have significantly contributed to the first-quarter top line.
Further, InMode’s products like Evolve, Evoke and Morpheus8, as well as the recently introduced Morpheus8 Body fractional technology, have been registering strong customer adoption over the past few months. InMode’s Evolve platform, which is the first hands-free platform with three treatment modality, has been well received by customers in the United States. This, along with the company’s other platform, Evoke (a non-invasive solution for facial remodeling) is currently available for sale in Canada as well as Europe, thereby enjoying expanded customer base globally. Robust customer adoption is expected to have continued during the to-be-reported quarter, banking on the pent-up demand for the products following the easing of restrictions, thus driving the revenues.
Preliminary Q1 Results
InMode, in its first-quarter preliminary results released this month, expects total revenues to be in the range of $65-$65.4 million.
Moreover, adjusted earnings per share for the to-be-reported quarter is projected to lie within 65-67 cents.
The Estimate Picture
For first-quarter 2021, the Zacks Consensus Estimate for earnings per share is pegged at 49 cents, implying a surge of 63.3% from the prior-year quarter’s reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has higher chances of beating estimates. However, this is not the case here as you can see:
Earnings ESP: InMode has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are a few medical stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle.
Inogen, Inc (INGN - Free Report) has an Earnings ESP of +47.18% and a Zacks Rank of 2, at present.
Owens & Minor, Inc. (OMI - Free Report) has an Earnings ESP of +2.41% and is a Zacks #2 Ranked stock.
Zacks 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.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
InMode (INMD) to Report Q1 Earnings: What's in the Offing?
InMode Ltd. (INMD - Free Report) is set to report first-quarter 2021 results on May 5, before market open.
In the last-reported quarter, the company’s earnings of 94 cents surpassed the Zacks Consensus Estimate by 54.1%. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on three occasions and missed the same in one, the average beat being 131.89%.
Let's take a look at how things have shaped up prior to this announcement.
Factors at Play
Through the past few months, InMode has been registering revenue rebound, leveraging on growing demand for its minimally-invasive and hands-free proprietary electrosurgical bipolar radio-frequency (“RF”) platforms, which are becoming the standard of care for a variety of surgical procedures. Given the gradual easing of pandemic-induced restrictions and robust demand for the RF technology, this trend is likely to have continued during the first quarter as well, thus driving the top line.
The company, during its last update in February 2021, highlighted the strong market rollout of its newly-launched products. These devices, being hands-free, enable social distancing and allow physicians to provide effective treatments. Given the continued spread of the pandemic along with social-distancing norms, these devices are expected to keep witnessing robust customer adoption. These device sales are likely to have significantly contributed to the first-quarter top line.
InMode Ltd. Price and EPS Surprise
InMode Ltd. price-eps-surprise | InMode Ltd. Quote
Further, InMode’s products like Evolve, Evoke and Morpheus8, as well as the recently introduced Morpheus8 Body fractional technology, have been registering strong customer adoption over the past few months. InMode’s Evolve platform, which is the first hands-free platform with three treatment modality, has been well received by customers in the United States. This, along with the company’s other platform, Evoke (a non-invasive solution for facial remodeling) is currently available for sale in Canada as well as Europe, thereby enjoying expanded customer base globally. Robust customer adoption is expected to have continued during the to-be-reported quarter, banking on the pent-up demand for the products following the easing of restrictions, thus driving the revenues.
Preliminary Q1 Results
InMode, in its first-quarter preliminary results released this month, expects total revenues to be in the range of $65-$65.4 million.
Moreover, adjusted earnings per share for the to-be-reported quarter is projected to lie within 65-67 cents.
The Estimate Picture
For first-quarter 2021, the Zacks Consensus Estimate for earnings per share is pegged at 49 cents, implying a surge of 63.3% from the prior-year quarter’s reported figure.
What Our Model Suggests
Per our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) along with a positive Earnings ESP has higher chances of beating estimates. However, this is not the case here as you can see:
Earnings ESP: InMode has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are a few medical stocks worth considering, as these have the right combination of elements to beat on earnings this reporting cycle.
DENTSPLY SIRONA Inc. (XRAY - Free Report) has an Earnings ESP of +11.36% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen, Inc (INGN - Free Report) has an Earnings ESP of +47.18% and a Zacks Rank of 2, at present.
Owens & Minor, Inc. (OMI - Free Report) has an Earnings ESP of +2.41% and is a Zacks #2 Ranked stock.
Zacks 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.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>