Did You Ride The Rally In Inmode (INMD)?

(RTTNews) - Shares of InMode Ltd. (INMD) touched an all-time high of $84.70 in intraday trading on Monday, before closing at $82.78.

InMode develops devices that use minimally invasive radio-frequency technology for aesthetic medical procedures such as contouring, skin treatment, acne, hair removal, anti-aging, women's health & wellness, pigment, and vascular issues.

On Sep.10, 2019, just a month after its IPO, we had alerted readers to this stock when it was trading around $25 (Report titled "InMode in Steady Mode"). By the end of that year, the stock price had almost doubled, thanks to the company's improving revenue and net income, driven by growing demand for its products in the United States and abroad (Report titled "Healthcare IPOs That Delivered Solid Returns In 2019, dated Dec.12, 2019).

Despite the disruptions caused by the COVID-19 pandemic, the company had an outstanding performance in 2020 - with nearly 30% increase in non GAAP net income and 32% revenue growth.

On a non-GAAP basis, the annual net income attributable to InMode in 2020 was $89.1 million or $2.11 per share on revenue of $206.1 million. This compared with a net income of $62.4 million or $1.63 per share and revenue of $156 million in 2019.

Looking ahead to full year 2021, InMode expects non-GAAP earnings per share to range between $2.34 and $2.45 and revenue to range between $250 million and $260 million.

The company plans to introduce its electro-surgical technologies into new medical categories such as gynecology and ophthalmology in 2021.

Given the company's new product launches, growing demand and foray into new medical categories, it may be worth keeping an eye on InMode.

Related Reading:

InMode In Steady Mode... (https://www.rttnews.com/3028977/inmode-in-steady-mode.aspx)

Healthcare IPOs That Delivered Solid Returns In 2019 (https://www.rttnews.com/3052560/healthcare-ipos-that-delivered-solid-returns-in-2019.aspx)