In the latest trading session, InMode (INMD - Free Report) closed at $45.05, marking a +0.74% move from the previous day. This move outpaced the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the maker of cosmetic surgery devices had gained 0.65% over the past month, lagging the Medical sector's gain of 2.2% and the S&P 500's gain of 4.73% in that time.
INMD will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2020.
Any recent changes to analyst estimates for INMD should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. INMD is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, INMD currently has a Forward P/E ratio of 25.41. This valuation marks a discount compared to its industry's average Forward P/E of 26.41.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 111, putting it in the top 44% 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.