Inogen Inc. (INGN) Receives Consensus Rating of “Buy” from Analysts
Inogen Inc. (NASDAQ:INGN) has been assigned an average recommendation of “Buy” from the six analysts that are covering the firm. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $58.50.
A number of research analysts recently weighed in on INGN shares. JPMorgan Chase & Co. raised their price target on shares of Inogen from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Needham & Company LLC reissued a “strong-buy” rating and issued a $64.00 target price (up from $58.00) on shares of Inogen in a research note on Sunday, August 7th. Stifel Nicolaus lowered shares of Inogen from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Inogen from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th.
Shares of Inogen (NASDAQ:INGN) traded down 1.33% during trading on Tuesday, hitting $64.76. The stock had a trading volume of 55,268 shares. The firm has a 50 day moving average price of $58.80 and a 200 day moving average price of $54.18. Inogen has a 12-month low of $28.81 and a 12-month high of $67.78. The firm has a market cap of $1.31 billion, a P/E ratio of 91.21 and a beta of 0.99.
Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, November 3rd. The medical technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Inogen had a net margin of 7.70% and a return on equity of 9.59%. The business had revenue of $54.42 million for the quarter, compared to analyst estimates of $47.89 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, equities analysts expect that Inogen will post $0.62 earnings per share for the current fiscal year.
In related news, VP Byron Myers sold 6,200 shares of Inogen stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $60.04, for a total value of $372,248.00. Following the completion of the sale, the vice president now owns 41,385 shares in the company, valued at approximately $2,484,755.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Raymond Huggenberger sold 7,089 shares of Inogen stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $56.24, for a total transaction of $398,685.36. Following the completion of the sale, the chief executive officer now owns 8,342 shares of the company’s stock, valued at approximately $469,154.08. The disclosure for this sale can be found here. Insiders own 5.18% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Inogen by 4.7% in the first quarter. Renaissance Technologies LLC now owns 363,200 shares of the medical technology company’s stock valued at $16,337,000 after buying an additional 16,300 shares during the period. Springbok Capital Management LLC increased its position in Inogen by 2.5% in the first quarter. Springbok Capital Management LLC now owns 4,100 shares of the medical technology company’s stock valued at $184,000 after buying an additional 100 shares during the period. A.R.T. Advisors LLC increased its position in Inogen by 20.3% in the first quarter. A.R.T. Advisors LLC now owns 15,415 shares of the medical technology company’s stock valued at $693,000 after buying an additional 2,600 shares during the period. LPL Financial LLC acquired a new position in Inogen during the first quarter valued at approximately $1,118,000. Finally, BNP Paribas Arbitrage SA increased its position in Inogen by 102.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,617 shares of the medical technology company’s stock valued at $231,000 after buying an additional 2,334 shares during the period.
Inogen, Inc is a medical technology company. The Company is engaged in developing, manufacturing and marketing portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device weighing approximately 4.8 or seven pounds.
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