InMode (NASDAQ:INMD) Updates FY24 Earnings Guidance

InMode (NASDAQ:INMD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.01-2.05 for the period, compared to the consensus earnings per share estimate of $2.49. The company issued revenue guidance of $485-495 million, compared to the consensus revenue estimate of $491.89 million.

InMode Trading Up 1.6 %

NASDAQ:INMD traded up $0.28 on Friday, hitting $17.64. 1,596,228 shares of the stock were exchanged, compared to its average volume of 1,636,185. The stock has a fifty day moving average of $19.92 and a 200-day moving average of $21.35. The stock has a market cap of $1.48 billion, a PE ratio of 8.36 and a beta of 2.20. InMode has a fifty-two week low of $16.72 and a fifty-two week high of $48.25.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. InMode had a net margin of 38.84% and a return on equity of 27.66%. The company had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. During the same period in the previous year, the firm earned $0.69 earnings per share. InMode’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts predict that InMode will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on INMD. UBS Group increased their price target on shares of InMode from $24.00 to $26.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a hold rating on shares of InMode in a report on Friday. Finally, Barclays lowered their price target on InMode from $34.00 to $33.00 and set an overweight rating for the company in a report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $32.80.

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.