Taylor Frigon Capital Management LLC Sells 9,364 Shares of InMode Ltd. (NASDAQ:INMD)

Taylor Frigon Capital Management LLC decreased its stake in shares of InMode Ltd. (NASDAQ:INMD) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,892 shares of the healthcare company’s stock after selling 9,364 shares during the period. Taylor Frigon Capital Management LLC owned about 0.11% of InMode worth $1,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its position in InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after purchasing an additional 579 shares during the period. Harvey Capital Management Inc. increased its holdings in InMode by 1.4% during the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock valued at $860,000 after buying an additional 700 shares during the last quarter. Carmel Capital Partners LLC increased its holdings in InMode by 6.9% during the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock valued at $195,000 after buying an additional 741 shares during the last quarter. Franklin Resources Inc. increased its holdings in InMode by 4.6% during the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock valued at $292,000 after buying an additional 768 shares during the last quarter. Finally, Meritage Portfolio Management increased its holdings in InMode by 9.5% during the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after buying an additional 1,284 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

Shares of NASDAQ INMD opened at $19.31 on Thursday. The firm has a fifty day moving average price of $17.49 and a 200-day moving average price of $17.36. The stock has a market cap of $1.34 billion, a PE ratio of 8.22 and a beta of 2.13. InMode Ltd. has a 1 year low of $14.87 and a 1 year high of $23.46.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.25.

About InMode

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.