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InMode Stock: The H2 Mega Comeback Is Here To Stay

Aug. 02, 2022 2:07 PM ETInMode Ltd. (INMD) StockIEFA, SCZ, IXUS, EIS, IDEV, VT, ISRA, SPDW, ESGV, PRFZ15 Comments
Acutel profile picture


  • InMode is up more than 50% since July 1 on higher guidance for FY22 and yet another record quarter in Q2.
  • InMode's business has never been in better shape from a fundamental analysis point of view - its growing internationally, successfully launching new products and maintaining insanely high 80%+ Gross Margins.
  • At 17x P/E (trailing), InMode stock is cheaply valued going by its historical P/E, underlining the potential for continued stock appreciation.
  • The mega comeback that started in July is here to stay, and investors keen on outsized returns still have a time to join the InMode gravy train.

Cosmetologist examining facial wrinkles on young woman face

Prostock-Studio/iStock via Getty Images

InMode Ltd (NASDAQ:INMD) manufactures and sells minimally invasive aesthetic medical devices for plastic surgery, gynecology, dermatology, otolaryngology (ear nose and throat) and ophthalmology.

Non-invasive and minimally invasive aesthetic treatments like fat reduction, hair removal and muscle

This article was written by

Acutel profile picture
We are global investors who invest in good companies at fair valuation and speculate on all else, subject to the risk exposure we can afford

Analyst’s Disclosure: I/we have a beneficial long position in the shares of INMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (15)

classic covid stock destined to return to where it was before the covid
FringDook profile picture
@nemoprofeta did you sign up on seeking alpha just to make this genius comment ?
Down 10% in a week..Nothing unusual for this totally forgotten and dismissed stock. You have to hope management starts to repurchase shares, and does in a very meaningful way. They could easily take out 10-15M shares at these prices. Something is clearly not working as far as how the market perceives this company. I have written IR and urge others to do the same. Maybe if enough shareholders contact them they will understand that they have to do something with shareholder equity (without making a distracting acquisition that is not needed for future growth).
So I bought 100 at 85, should be adding more here right?
adaret profile picture
@Peterso21 is average in over the next few months just incase we get a nasty shakeout or 5% decline in the S&P 500., or abit more in the Russel Smallcap 2000.
@Peterso21 Yes you should. It's really quite astonishing that this still sells for around 16x this year's EPS. Compared to other med tech companies, the valuation simply makes no sense, even with the capital misallocation policies by management.
check-mate profile picture
I am long, I wish the company had more revenue via subscription. I assume they will follow the align model( ITero), and have a new and improved model every few years .
I think long time shareholders should get a 10%discount coupon for a procedure.
Overall positive presentation today (can be seen on INMD website). No slow down at all detected by management because of inflation/recession so that should be taken as good news by the market. Also Empower looking better than ever (although its still early).

I was surprised how management addressed the use of cash ($450M): While an acquisition is still very much possible (even if dilutive so long as they can 'fix' things), management is also considering share buybacks or even a dividend (contrary to what was said on the earnings call where Moshe definitively said the cash will be used for an acquisition). I was glad to hear the change in attitude, but am wondering why they are waiting? Why not buy back at least a few million shares at these prices (say $100M worth)? I also did not hear any sort of rationale as to why they would seek an acquisition and how that makes sense for shareholders.

This is a fantastic company but if management had simply decided to buy back 15-20% of the company (it still almost can) we would have a much higher stock price today and deservedly so.
adaret profile picture
Weird that INMD is -8.5% today and being punished for no reason. They had solid earnings recently but it’s also had a good move.
FringDook profile picture
@adaret would expect some consolidation after an excellent run up from the low 20s. nothing to worry about IMO
Glad my position is up but didn’t add during the drop…ugh.
Another SA author had an article today about INMD, also with a positive analysis, but suggested waiting for a dip first. I'm not much good at trying to time ST dips that might never happen. I would rather get it while you can.
Acutel profile picture
@Danjw2 Its easier to DCA over a set period than wait for a dip that may never come, or it does and you're out of liquidity at the time.
FringDook profile picture
@Danjw2 buy some and watch and buy more if it dips. can trade around a core position. $INMD is one of my largest holdings personally and I am quite bullish on the small market cap, big growth, and tantalizing valuation.
@Patrick FringDook And insane margins.
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