INMD - Why InMode Stock Surged Today
Shares of InMode (NASDAQ: INMD) jumped on Tuesday after the medical technology specialist released preliminary third-quarter results. As of 2:50 p.m. EDT, InMode's stock was up more than 8% after rising as much as 14.5% earlier in the day.
InMode expects to deliver record revenue of $59.2 million to $59.5 million, which would represent growth of roughly 48% from the year-ago period. Analysts had anticipated revenue of only $38.2 million.
The cosmetic device maker also said that its adjusted earnings per share should come in between $0.60 and $0.62. That, too, was well above Wall Street's estimates, which called for adjusted EPS of $0.31.
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Why InMode Stock Surged Today