Inogen (NASDAQ:INGN) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Thursday, January 3rd.
A number of other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Inogen from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. ValuEngine downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Needham & Company LLC downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating and boosted their price objective for the company from $254.00 to $296.00 in a research report on Monday, September 10th. Finally, Piper Jaffray Companies boosted their price objective on shares of Inogen from $245.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $244.67.
Shares of NASDAQ:INGN opened at $135.81 on Thursday. Inogen has a 52 week low of $110.51 and a 52 week high of $287.79. The stock has a market capitalization of $2.92 billion, a P/E ratio of 103.67, a PEG ratio of 2.59 and a beta of 1.58.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.21. Inogen had a net margin of 12.28% and a return on equity of 18.91%. The business had revenue of $95.29 million during the quarter, compared to analysts’ expectations of $90.94 million. During the same period last year, the company posted $0.33 EPS. The company’s revenue was up 38.0% on a year-over-year basis. Equities analysts forecast that Inogen will post 2.11 EPS for the current year.
In related news, Director Raymond Huggenberger sold 8,500 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $130.45, for a total value of $1,108,825.00. Following the sale, the director now directly owns 11,297 shares in the company, valued at approximately $1,473,693.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heath Lukatch sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $193.97, for a total transaction of $96,985.00. Following the completion of the sale, the director now owns 1,489 shares in the company, valued at $288,821.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,000 shares of company stock valued at $1,516,290. Company insiders own 5.29% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGN. Eagle Asset Management Inc. acquired a new position in Inogen in the 3rd quarter valued at approximately $45,320,000. BlackRock Inc. increased its stake in Inogen by 7.2% in the 2nd quarter. BlackRock Inc. now owns 2,591,083 shares of the medical technology company’s stock valued at $482,796,000 after buying an additional 173,035 shares during the period. Partner Fund Management L.P. acquired a new position in Inogen in the 3rd quarter valued at approximately $35,062,000. Carillon Tower Advisers Inc. acquired a new position in Inogen in the 3rd quarter valued at approximately $34,114,000. Finally, Morgan Stanley increased its stake in Inogen by 118.9% in the 3rd quarter. Morgan Stanley now owns 250,027 shares of the medical technology company’s stock valued at $61,036,000 after buying an additional 135,811 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.
Inogen Company Profile
Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
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