INMD
Brought a small position at $19.83 yesterday. here is what I like.
Balance Sheet: The company has $8.60+ in cash which is a huge pus. furthermore there business generates a ton of cash, hence it should continue to climb in my opinion.
Valuation: With guidance of $2.53-2.57 The stock is trading at less than 8 times earnings. But even better is it trade at a PE slightly above 4 ex cash. Given the industry I would expect at least a 12 -15 PE. Hence I do expect INMD FV to be around low 30's, given the current earnings guidance, the industry it is in, and the excellent balance sheet with $8.60+ in cash, and a business that should ony add to those cash evels this year barring soemthing unforseen.
Conclusion: I like INMD here, the one knock is I'm not sure the comps will be very good in the 1rst half of FY 24, as I expect the comps to start improving in the back half. But at these prices I feel it is priced for that and than some. All is just my opinion, and I could always be wrong though.
