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InMode Ltd. (INMD) designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies.
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.
It also designs, develops, manufactures, and markets non-invasive medical aesthetic products that target an array of procedures, including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture, and superficial benign vascular and pigmented lesions.
InMode Ltd. offers its products directly in the United States, Canada, the United Kingdom, Spain, Australia, and India, as well as indirectly through distributors in 46 countries.
Shares of this stock have formed a bullish "cup and handle" following the company's recent earnings report. On November 12th, Inmode reported 3rd Quarter September 2020 earnings of $0.57 per share on revenue of $59.7 million. The consensus earnings estimate was $0.27 per share. Revenue grew 49.2% on a year-over-year basis.
The company said it expects 2020 revenue of $192.0 million to $195.0 million. The company's previous guidance was revenue of $150.0 million to $160.0 million and the current consensus revenue estimate is $159.47 million for the year ending December 31, 2020.
Entry Point: $45.00
Stop Loss: $42.75
Trading Range: $13.14 - $53.20
Target Price: $49.50
INMD CLOSED AT $42
