Inogen (NASDAQ:INGN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Inogen (NASDAQ:INGN) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other research analysts have also recently commented on INGN. Needham & Company LLC reiterated a hold rating on shares of Inogen in a report on Wednesday, May 8th. Stifel Nicolaus increased their price target on shares of Inogen from $6.00 to $7.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $7.00.

Inogen Price Performance

Shares of INGN opened at $9.36 on Friday. Inogen has a one year low of $4.13 and a one year high of $10.64. The company has a 50-day moving average of $8.49 and a two-hundred day moving average of $7.75. The stock has a market cap of $220.71 million, a price-to-earnings ratio of -2.26 and a beta of 1.07.

Inogen (NASDAQ:INGN) last announced its earnings results on Tuesday, May 7th. The medical technology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.14. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The company had revenue of $78.03 million during the quarter, compared to analysts’ expectations of $73.67 million. During the same period last year, the company posted ($0.63) earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate that Inogen will post -2.2 earnings per share for the current year.

Insider Transactions at Inogen

In other news, EVP Jason Somer sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $8.56, for a total value of $85,600.00. Following the completion of the sale, the executive vice president now directly owns 4,452 shares of the company’s stock, valued at $38,109.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Inogen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGN. Inspire Advisors LLC bought a new position in shares of Inogen in the first quarter valued at approximately $255,000. Federated Hermes Inc. raised its position in shares of Inogen by 347.2% in the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock valued at $1,458,000 after purchasing an additional 206,125 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Inogen by 26.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 285,176 shares of the medical technology company’s stock valued at $1,566,000 after purchasing an additional 59,446 shares during the period. Strs Ohio raised its position in shares of Inogen by 9.0% in the fourth quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock valued at $226,000 after purchasing an additional 3,400 shares during the period. Finally, Tocqueville Asset Management L.P. grew its stake in shares of Inogen by 27.3% in the first quarter. Tocqueville Asset Management L.P. now owns 93,350 shares of the medical technology company’s stock worth $753,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Inogen Company Profile

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.