INMD -3.55 to 34.04 after their guidance mildly disappoints .... at what price might you get back in ?
IBD -
By Allison Gatlin
Medical aesthetics leader InMode beat already bullish first-quarter
expectations Tuesday, but its full-year outlook came in light and INMD stock
crumbled.
InMode sells systems that use minimally invasive technology to tighten skin
and ablate fat cells.
For the year, the company expects $525 million to $530 million in sales,
below views for $531 million. InMode also expects to earn $2.58-$2.60 per
share, minus some items. Analysts earlier forecast InMode earnings of $2.61
per share, according to FactSet.
In morning trading on today's stock market, INMD stock tumbled 9.9% near
33.90. That was below the lower bounds of a cup-with-handle base with a buy
point at 38.48, MarketSmith.com shows.
INMD STOCK: INMODE BEATS ITS PREANNOUNCEMENT
During the first quarter, InMode earned 52 cents per share, on an adjusted
basis. Earnings climbed 30% year over year and beat expectations by a nickel
per share. Sales surged 24% to $106.1 million. INMD stock analysts called
for $101.4 million.
That topped an already bullish preannouncement for $105.7 million to $105.9
million in sales. The company also beat its preannounced earnings of 50
cents-to-51 cents per share.
Despite the tumble Tuesday morning, INMD stock has a perfect IBD Digital
Composite Rating of 99, putting it in the top 1% of all stocks in terms of
fundamental and technical measures.
