Inogen, Inc (INGN) Shares Bought by Congress Asset Management Co. MA
Congress Asset Management Co. MA increased its position in shares of Inogen, Inc (NASDAQ:INGN) by 159.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,823 shares of the medical technology company’s stock after buying an additional 12,800 shares during the period. Congress Asset Management Co. MA owned about 0.10% of Inogen worth $1,615,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Investment Management LLC increased its position in shares of Inogen by 0.7% in the third quarter. BlackRock Investment Management LLC now owns 67,727 shares of the medical technology company’s stock worth $4,057,000 after buying an additional 449 shares in the last quarter. BlackRock Fund Advisors increased its position in Inogen by 11.5% in the third quarter. BlackRock Fund Advisors now owns 1,179,565 shares of the medical technology company’s stock worth $70,656,000 after buying an additional 121,397 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Inogen by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,220 shares of the medical technology company’s stock worth $193,000 after buying an additional 50 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Inogen during the third quarter worth $211,000. Finally, State of Tennessee Treasury Department increased its position in Inogen by 14.9% in the third quarter. State of Tennessee Treasury Department now owns 12,588 shares of the medical technology company’s stock worth $754,000 after buying an additional 1,630 shares during the period.
Shares of Inogen, Inc (NASDAQ INGN) traded up 0.51% during midday trading on Friday, hitting $92.31. The company had a trading volume of 493,227 shares. The stock has a 50 day moving average price of $86.78 and a 200 day moving average price of $74.20. Inogen, Inc has a 1-year low of $44.26 and a 1-year high of $95.43. The firm has a market capitalization of $1.90 billion, a P/E ratio of 82.57 and a beta of 1.04.
Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.15. Inogen had a net margin of 9.32% and a return on equity of 11.67%. The firm had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $49.06 million. During the same quarter last year, the company posted $0.12 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Inogen, Inc will post $1.04 EPS for the current fiscal year.
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Several analysts have recently commented on INGN shares. Needham & Company LLC increased their price objective on Inogen from $96.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 9th. Stifel Nicolaus upped their target price on Inogen to $65.00 in a report on Wednesday, March 1st. Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Thursday, March 2nd. TheStreet raised Inogen from a “c” rating to a “b-” rating in a report on Tuesday, February 28th. Finally, J P Morgan Chase & Co set a $78.00 price objective on Inogen and gave the company a “buy” rating in a report on Wednesday, March 1st. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $86.80.
In related news, EVP Matt Scribner sold 2,500 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $75.28, for a total transaction of $188,200.00. Following the transaction, the executive vice president now directly owns 4,064 shares in the company, valued at $305,937.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Wilkinson sold 23,437 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $88.06, for a total transaction of $2,063,862.22. Following the transaction, the insider now owns 54,088 shares in the company, valued at $4,762,989.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,048 shares of company stock worth $5,663,887. 5.31% of the stock is owned by company insiders.
Inogen Company Profile
Inogen, Inc is a medical technology company. The Company develops, manufactures and markets 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.
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