On Tuesday, InMode, a medical aesthetics company, reported its Q1 earnings of $106.1 million, which caused a tumble in INMD stock. The adjusted earnings were 52 cents per share, while analysts expected 47 cents per share on $101.4 billion in sales. In the same period last year, InMode reported $85.9 billion in sales and earned 40 cents per share. Despite the previous preannouncement of bullish expectations for Q1, InMode’s stock fell due to lackluster results. The company has predicted adjusted profit of $2.58-$2.60 per share and $525 million to $530 million in sales for the year.
INMD stock analysts had been expecting earnings of $2.61 per share and $531 billion in sales. The stock skidded 4.8% in premarket trading, trading at 35.80, and is forming a cup-with-handle base with a buy point of 38.48, according to MarketSmith.com. Although INMD stock has a perfect IBD Digital Composite Rating of 99, it is now facing disappointing Q1 results.