Shares of InMode (NASDAQ: INMD) were on an upward trajectory in morning trading on Tuesday after beating analysts’ expectations both on the top line and bottom line. Adjusted earnings per share for the medical technology company came in at $0.78, handily beating analysts’ consensus estimate of $0.67.
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Sales soared by 21% year-over-year to $133.6 million beating estimates by $3.9 million.
Looking forward, management now expects revenue and adjusted earnings per share for FY23 to be in the ranges of $525 million to $530 million and $2.58 to $2.60, respectively. For reference, analysts were expecting $528.8 million in revenue along with an adjusted EPS of $2.64.
Overall, analysts are bullish about INMD stock with a Strong Buy consensus rating based on unanimous four Buys.