InMode (NASDAQ:INMD) Releases FY24 Earnings Guidance

InMode (NASDAQ:INMD - Get Free Report) updated its FY24 earnings guidance on Wednesday. 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.

Analysts Set New Price Targets

Several equities research analysts have commented on INMD shares. BTIG Research initiated coverage on InMode in a research note on Thursday, October 17th. They issued a "buy" rating and a $25.00 target price on the stock. Needham & Company LLC restated a "hold" rating on shares of InMode in a report on Thursday, October 10th. Barclays decreased their target price on shares of InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, October 14th. Jefferies Financial Group downgraded shares of InMode from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group lowered their target price on InMode from $21.00 to $16.00 and set a "hold" rating on the stock in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, InMode currently has an average rating of "Hold" and a consensus price target of $22.60.

InMode Stock Performance

NASDAQ:INMD traded down $0.05 during mid-day trading on Wednesday, hitting $17.86. The stock had a trading volume of 1,116,030 shares, compared to its average volume of 1,348,029. The company's 50 day simple moving average is $16.57 and its 200 day simple moving average is $17.34. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 8.49 and a beta of 2.17. InMode has a twelve month low of $14.87 and a twelve month high of $26.80.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 21.00%. InMode's revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, equities analysts forecast that InMode will post 1.58 earnings per share for the current year.

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.