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InMode (INMD) Ascends But Remains Behind Market: Some Facts to Note

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InMode (INMD - Free Report) closed the latest trading day at $20.62, indicating a +0.05% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.11% for the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.

Coming into today, shares of the maker of cosmetic surgery devices had lost 10.16% in the past month. In that same time, the Medical sector lost 1.51%, while the S&P 500 gained 1.5%.

The upcoming earnings release of InMode will be of great interest to investors. 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. Meanwhile, our latest consensus estimate is calling for revenue of $104.3 million, down 1.67% from the prior-year quarter.

INMD's full-year Zacks Consensus Estimates are calling for earnings of $2.56 per share and revenue of $500.8 million. These results would represent year-over-year changes of -0.39% and +1.78%, respectively.

Any recent changes to analyst estimates for InMode should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

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. Right now, InMode possesses a Zacks Rank of #3 (Hold).

In terms of valuation, InMode is presently being traded at a Forward P/E ratio of 8.05. This denotes a discount relative to the industry's average Forward P/E of 21.63.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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