INMD - Is InMode Stock a Buy Now?
InMode (NASDAQ: INMD) is a medical device company that provides its consumers with a wide range of treatments to help with contouring skin, treating acne, removing hair, and other aesthetic issues. The company's focus is on giving young people an alternative to plastic surgery. It has operations in 80 countries, and sales outside of the U.S. make up one-third of its revenue.
Shares of the healthcare stock have been rising in recent months, but on a year-to-date basis, they are still down around 50%. Is the stock destined to continue rallying, or is it likely to give back some of its recent gains?
InMode operates in an area of healthcare -- aesthetics -- that is proving to be strong amid inflation; in its most recent quarter (the period ended Sept. 30), the company reported revenue of $121.1 million, which was up 29% year over year. Revenue has been stable of late, but investors may be concerned about the steep drop-off from the growth the company achieved in 2021, when sales soared by 70% :
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Is InMode Stock a Buy Now?