InMode Faces Revenue Headwinds Amid Challenging Economics: Analyst Cuts Price Target And Estimates
InMode Faces Revenue Headwinds Amid Challenging Economics: Analyst Cuts Price Target And Estimates
Canaccord Genuity analyst Caitlin Cronin downgraded InMode Ltd (NASDAQ:INMD) to Hold from Buy at a lowered price target of $22 from $55.
Canaccord Genu 分析师凯特琳·克罗宁下调评级 InMode Ltd 纳斯达克股票代码：INMD）将从买入中持有，目标价从55美元下调至22美元。
Yesterday, the company reported Q3 preliminary results and a lowered FY23 outlook.
昨天，该公司公布了第三季度的初步业绩和下调的23财年展望。
The company expects Q3 revenue of $122.8 million-$123.0 million (vs. consensus of $136.94 million) and adjusted EPS of $0.59-$0.60 (vs. $0.66 street view).
该公司预计第三季度收入为1.228亿至1.23亿美元（市场预期为1.3694亿美元），调整后的每股收益为0.59-0.60美元（街景为0.66美元）。
For FY23, INMD lowered revenue guidance to $500 million-$510 million from $530 million-$540 million, vs. consensus of $538.03 million).
对于23财年，INMD将收入预期从5.3亿至5.4亿美元下调至5亿至5.1亿美元，而市场普遍预期为5.383亿美元）。
The analyst is unsurprised by this result and believes tough comparables (on stronger Q3 FY22) and sentiment across MedTech suggesting Q3 returning to more normal seasonality acted as a headwind.
这位分析师对这一结果并不感到惊讶，他认为强硬的可比数据（2022财年第三季度走强）和整个医疗科技公司的情绪表明第三季度恢复更正常的季节性是阻力。
At a recent conference, INMD stated that the financing pressures are impacting provider ROI on systems and highlighted challenges to providers securing financing, says the analyst.
这位分析师表示，在最近的一次会议上，INMD表示，融资压力正在影响提供商对系统的投资回报率，并凸显了提供商在获得融资方面面临的挑战。
Cronin doesn't see these economic headwinds as a near-term story but rather as the beginning of a more subdued appetite for new capital, curbing potential consumable sales.
克罗宁认为这些经济不利因素不是短期的故事，而是对新资本需求更加低迷的开始，从而抑制了潜在的消耗品销售。
Although the analyst cites GLP-1-induced skin tightening and expansion into health & wellness as driving patient demand, concerns about worsening provider economics for capital equipment sales can negate the impact of these positives.
尽管该分析师指出，GLP-1引起的皮肤紧致和向健康和保健领域的扩张推动了患者的需求，但对供应商资本设备销售经济状况恶化的担忧可能会抵消这些积极因素的影响。
Consequently, Cronin lowered estimates for revenue and adjusted EPS to $506.7 million (from $540.8 million), $2.55 (from $2.70) for FY23, and $550.8 million (from $622.6 million), $2.66 (from $3.00) for FY24.
因此，克罗宁将23财年的收入和调整后每股收益预期下调至5.067亿美元（从5.408亿美元起）、2.55美元（从2.70美元起）以及24财年的5.508亿美元（从6.226亿美元起）、2.66美元（从3.00美元起）。
Price Action: INMD shares are down 6.65% at $20.91 on the last check Friday.
价格走势: 在周五的最后一张支票中，INMD股价下跌6.65％，至20.91美元。