In the latest trading session, InMode (INMD - Free Report) closed at $38.04, marking a +0.08% move from the previous day. This move lagged the S&P 500's daily gain of 0.49%. Elsewhere, the Dow gained 0.57%, while the tech-heavy Nasdaq added 0.67%.
Prior to today's trading, shares of the maker of cosmetic surgery devices had lost 14.39% over the past month. This has lagged the Medical sector's gain of 0.98% and the S&P 500's gain of 3.03% in that time.
Wall Street will be looking for positivity from INMD as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for INMD. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant. INMD currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that INMD has a Forward P/E ratio of 21.6 right now. For comparison, its industry has an average Forward P/E of 24.87, which means INMD is trading at a discount to the group.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.