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InMode (INMD) shares ended the last trading session 6.8% higher at $15.46. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23% loss over the past four weeks.
The upside can be attributed to relief-rally across global markets following the announcement of a 90-day pause on tariff hike by the United States.
This maker of cosmetic surgery devices is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $91.9 million, up 14.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For InMode, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INMD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
InMode is a member of the Zacks Medical - Products industry. One other stock in the same industry, Phibro Animal Health (PAHC), finished the last trading session 6.6% higher at $19.06. PAHC has returned -20.4% over the past month.
For Phibro , the consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.52. This represents a change of +67.7% from what the company reported a year ago. Phibro currently has a Zacks Rank of #2 (Buy).
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InMode Ltd. (INMD) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).