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Medical aesthetics leader InMode (INMD) beat already bullish first-quarter expectations Tuesday, but its full-year outlook came in light and INMD stock crumbled.
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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.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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