Inogen Inc. (INGN) Reaches New 1-Year High at $58.10
Inogen Inc. (NASDAQ:INGN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.10 and last traded at $58.08, with a volume of 228,711 shares changing hands. The stock had previously closed at $54.78.
INGN has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “strong-buy” rating and issued a $58.00 price target (up from $47.00) on shares of Inogen in a report on Tuesday, May 10th. JPMorgan Chase & Co. began coverage on Inogen in a research report on Wednesday, July 13th. They issued an “overweight” rating for the company. Zacks Investment Research cut Inogen from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price objective (up previously from $46.00) on shares of Inogen in a research report on Tuesday, May 10th. Finally, Leerink Swann reissued an “outperform” rating and issued a $60.00 price objective on shares of Inogen in a research report on Wednesday, June 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.00.
The firm has a 50 day moving average price of $50.63 and a 200-day moving average price of $44.11. The firm has a market capitalization of $1.17 billion and a PE ratio of 85.85.
Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, August 4th. The medical technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $54.57 million for the quarter, compared to analyst estimates of $52.44 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities analysts expect that Inogen Inc. will post $0.62 earnings per share for the current fiscal year.
In other Inogen news, CEO Raymond Huggenberger sold 20,747 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $50.41, for a total transaction of $1,045,856.27. Following the transaction, the chief executive officer now directly owns 27,555 shares in the company, valued at $1,389,047.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Scribner sold 4,102 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $50.46, for a total value of $206,986.92. Following the transaction, the executive vice president now owns 6,435 shares in the company, valued at $324,710.10. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in Inogen during the fourth quarter worth approximately $2,419,000. Cornerstone Capital Management Holdings LLC. boosted its position in Inogen by 29.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 93,441 shares of the medical technology company’s stock worth $3,746,000 after buying an additional 21,141 shares during the period. Wells Fargo & Company MN boosted its position in Inogen by 93.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,002,254 shares of the medical technology company’s stock worth $40,180,000 after buying an additional 483,304 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Inogen by 131.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 274,332 shares of the medical technology company’s stock worth $10,998,000 after buying an additional 155,800 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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