InMode (NASDAQ:INMD) Updates FY24 Earnings Guidance

InMode (NASDAQ:INMD) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.92-1.96 for the period, compared to the consensus estimate of $1.87. The company issued revenue guidance of $410-420 million, compared to the consensus revenue estimate of $419.06 million.

Analyst Ratings Changes

A number of research firms recently commented on INMD. Canaccord Genuity Group decreased their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. BTIG Research initiated coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Thursday. Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and dropped their price target for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Finally, Barclays cut their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.60.

InMode Price Performance

Shares of NASDAQ INMD traded up $0.18 during trading hours on Friday, reaching $17.26. The stock had a trading volume of 840,603 shares, compared to its average volume of 1,344,552. InMode has a twelve month low of $14.87 and a twelve month high of $26.80. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 9.33 and a beta of 2.17. The business’s fifty day moving average is $16.65 and its two-hundred day moving average is $17.34.

InMode (NASDAQ:INMD) last released its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a return on equity of 21.04% and a net margin of 36.26%. The firm had revenue of $102.60 million for the quarter, compared to the consensus estimate of $104.81 million. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s revenue was down 24.6% compared to the same quarter last year. Sell-side analysts forecast that InMode will post 1.58 earnings per share for the current fiscal year.

InMode Company Profile

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.