InMode (NASDAQ:INMD) Releases FY24 Earnings Guidance

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

InMode Stock Performance

Shares of INMD stock traded up $0.18 during trading hours on Friday, hitting $17.26. The company had a trading volume of 840,603 shares, compared to its average volume of 1,344,552. The firm’s fifty day moving average is $16.65 and its 200 day moving average is $17.34. InMode has a 12 month low of $14.87 and a 12 month high of $26.80. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.33 and a beta of 2.17.

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

Wall Street Analyst Weigh In

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

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.