BlackRock Inc. Increases Holdings in Inogen, Inc (INGN)
BlackRock Inc. raised its position in shares of Inogen, Inc (NASDAQ:INGN) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,150,552 shares of the medical technology company’s stock after buying an additional 39,752 shares during the quarter. BlackRock Inc. owned about 10.45% of Inogen worth $205,207,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Inogen by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,213,605 shares of the medical technology company’s stock valued at $94,127,000 after buying an additional 55,802 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Inogen by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 502,412 shares of the medical technology company’s stock valued at $38,967,000 after buying an additional 3,796 shares in the last quarter. State Street Corp raised its stake in Inogen by 8.0% during the first quarter. State Street Corp now owns 398,412 shares of the medical technology company’s stock valued at $30,901,000 after buying an additional 29,649 shares in the last quarter. FMR LLC raised its stake in Inogen by 56.2% during the first quarter. FMR LLC now owns 324,200 shares of the medical technology company’s stock valued at $25,145,000 after buying an additional 116,600 shares in the last quarter. Finally, Rockefeller Financial Services Inc. raised its stake in Inogen by 5.2% during the second quarter. Rockefeller Financial Services Inc. now owns 309,755 shares of the medical technology company’s stock valued at $29,557,000 after buying an additional 15,377 shares in the last quarter.
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In other Inogen news, Director Raymond Huggenberger sold 14,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $92.96, for a total transaction of $1,301,440.00. Following the completion of the transaction, the director now owns 7,808 shares in the company, valued at $725,831.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $103.23, for a total transaction of $258,075.00. Following the transaction, the executive vice president now owns 6,964 shares of the company’s stock, valued at approximately $718,893.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,667 shares of company stock valued at $5,602,976. Corporate insiders own 5.31% of the company’s stock.
Several analysts have issued reports on the company. BidaskClub cut Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $108.00 target price on shares of Inogen in a report on Friday, September 1st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $90.00 target price on shares of Inogen in a report on Tuesday, September 12th. Finally, J P Morgan Chase & Co upped their target price on Inogen to $102.00 and gave the company an “overweight” rating in a report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $90.80.
Inogen, Inc (INGN) opened at 94.68 on Monday. Inogen, Inc has a 12-month low of $50.24 and a 12-month high of $105.35. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 82.19 and a beta of 1.00. The stock’s 50 day moving average price is $98.04 and its 200 day moving average price is $90.10.
Inogen (NASDAQ:INGN) last released its earnings results on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.10. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $59.99 million. Inogen had a net margin of 10.36% and a return on equity of 12.45%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities research analysts anticipate that Inogen, Inc will post $1.21 earnings per share for the current fiscal year.
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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