Stock Alert: InMode Climbs 11% On Upbeat Outlook

(RTTNews) - Shares of InMode Ltd. (INMD) are rising more than 11 percent or $4.33 in Tuesday's morning trade at $43.46 after the Israel-based medical technology company provided its financial outlook for the third quarter as well as raised its revenue outlook for fiscal 2020 above analysts' estimates.

Tuesday, InMode said it will release its financial results for the third quarter before the Nasdaq market opens on Thursday, November 12, 2020. Based on preliminary results, the company forecast third-quarter revenues in a range of $59.2 million to $59.5 million and adjusted earnings per share in a range of $0.60 to $0.62.

On average, analysts polled by Thomson Reuters have a consensus estimate for earnings of $0.31 per share on revenues of $38.24 million.

For fiscal 2020, InMode raised its outlook for revenue to a range of $192 million to $195 million. The Street expects revenues of $159.91 million.

InMode has traded in a range of $13.14 to $58.76 in the past 52 weeks.