Inogen (INGN) Upgraded at Zacks Investment Research
Inogen (NASDAQ:INGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $135.00 price target on the medical technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 6.43% from the stock’s current price.
According to Zacks, “Over the last year Inogen has outperformed the broader industry in terms of price. The company expects direct-to-consumer sales to be its fastest growing channel, followed by domestic business-to-business sales in the coming quarters, with solid focus in Europe. The company is also upbeat about its full-year 2017 revenue guidance. Solid domestic and international business-to-business sales has been boosting Inogen. The company took a series of strategic initiatives to strengthen its product offerings and market position. On the flip side, declining rental revenues raise concern. Moreover, since the company generates a significant portion of its revenues from the international market, volatile foreign exchange rate will continue to raise concern. Low POC adoption, intensifying competition, reimbursement cuts and foreign exchange headwinds are other major concerns. Reimbursement cuts and foreign exchange headwinds are other major concerns.”
A number of other equities research analysts have also commented on the company. Leerink Swann restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Inogen in a research report on Wednesday, November 8th. BidaskClub lowered Inogen from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Finally, Needham & Company LLC raised their price objective on Inogen from $108.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $103.71.
In other news, EVP Alison Bauerlein sold 27,630 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $116.46, for a total transaction of $3,217,789.80. Following the completion of the sale, the executive vice president now directly owns 11,718 shares of the company’s stock, valued at approximately $1,364,678.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Wilkinson sold 30,651 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $115.75, for a total value of $3,547,853.25. Following the sale, the insider now directly owns 38,107 shares of the company’s stock, valued at $4,410,885.25. The disclosure for this sale can be found here. Insiders have sold a total of 157,236 shares of company stock valued at $18,565,043 over the last ninety days. Company insiders own 5.31% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of INGN. UBS Asset Management Americas Inc. raised its stake in shares of Inogen by 148.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,939 shares of the medical technology company’s stock worth $758,000 after purchasing an additional 4,739 shares in the last quarter. Northern Trust Corp raised its stake in shares of Inogen by 5.5% in the 2nd quarter. Northern Trust Corp now owns 247,725 shares of the medical technology company’s stock valued at $23,638,000 after acquiring an additional 12,977 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Inogen by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 20,200 shares of the medical technology company’s stock valued at $1,927,000 after acquiring an additional 1,600 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Inogen by 63.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,969 shares of the medical technology company’s stock valued at $4,386,000 after acquiring an additional 17,867 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Inogen by 13.7% in the 2nd quarter. Voya Investment Management LLC now owns 7,610 shares of the medical technology company’s stock valued at $726,000 after acquiring an additional 917 shares in the last quarter.
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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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