InMode (NASDAQ:INMD) Releases FY24 Earnings Guidance

InMode (NASDAQ:INMD) issued an update on its FY24 earnings guidance on Thursday morning. 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 Stock Up 1.6 %

INMD traded up $0.28 during trading on Friday, hitting $17.64. The company had a trading volume of 1,596,228 shares, compared to its average volume of 1,636,185. The firm’s 50-day moving average price is $19.92 and its 200 day moving average price is $21.35. The company has a market capitalization of $1.48 billion, a PE ratio of 8.36 and a beta of 2.20. InMode has a one year low of $16.72 and a one year high of $48.25.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $124.77 million. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts forecast that InMode will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

INMD has been the topic of several recent analyst reports. Barclays lowered their price target on InMode from $34.00 to $33.00 and set an overweight rating on the stock in a research report on Friday, April 12th. UBS Group upped 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. Finally, Needham & Company LLC reiterated a hold rating on shares of InMode in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InMode has an average rating of Hold and a consensus target price of $32.80.

About InMode

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.