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Bradley Bowers's avatar

Not sure how much fundamental color you’d care for but on INMD shares were down up to MSD/HSD on Monday after israel attacks but the stock really dove later in the week with poor numbers, 3Q miss and guide down. Setup in medical device aesthetics is tough with companies continuing to miss numbers (CUTR at $1.70, ESTA down to $23 after guiding 4Q lower although timing of an approval was part of the story, SIEN facing bankruptcy potentially). Some of the valuation/price action here seems to be that these are cash pay procedures into a recession/worsening consumer discretionary environment. Not sure which side to pick on whether that plays out but could have to see numbers stop coming down before this one can get more constructive longer on INMD. 8% 2024 top line in consensus seems reasonable but cadence assumes an acceleration of growth into 2H24 which might be at higher risk of being in a worse economy. INMD good house on a bad block but again might have a little time if waiting for perfect entry point

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Bradley Bowers's avatar

SKIN, parent company of the well known “Hydrafacial” system just had:

- CEO departure

- 30% sales miss vs Street

- Guidance cut 16% for the year

- suspension of Long-Term 2025 guide

INMD not indicating yet but SKIN down 40% after hours after already being down 58% YTD

It’s a tough tape in medical device aesthetics...

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