InMode (INMD) Dips More Than Broader Markets: What You Should Know

In the latest trading session, InMode (INMD) closed at $48.90, marking a -1.71% move from the previous day. This change lagged the S&P 500's 0.9% loss on the day. Meanwhile, the Dow lost 0.58%, and the Nasdaq, a tech-heavy index, lost 0.93%.

Coming into today, shares of the maker of cosmetic surgery devices had gained 30.65% in the past month. In that same time, the Medical sector gained 0.17%, while the S&P 500 gained 3.3%.

Wall Street will be looking for positivity from INMD as it approaches its next earnings report date. This is expected to be February 18, 2020.

Any recent changes to analyst estimates for INMD should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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).

Digging into valuation, INMD currently has a Forward P/E ratio of 28.27. Its industry sports an average Forward P/E of 27.5, so we one might conclude that INMD is trading at a premium comparatively.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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