Inogen Inc. (INGN) Sets New 12-Month High at $58.10
Inogen Inc. (NASDAQ:INGN) shares hit a new 52-week high on Tuesday . The stock traded as high as $58.10 and last traded at $58.08, with a volume of 228,711 shares traded. The stock had previously closed at $54.78.
A number of research analysts have commented on the company. Zacks Investment Research cut Inogen from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Inogen from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Needham & Company LLC restated a “strong-buy” rating and set a $64.00 price target (up from $58.00) on shares of Inogen in a research note on Sunday. Stifel Nicolaus cut 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, Leerink Swann restated an “outperform” rating and set a $60.00 price target on shares of Inogen in a research note on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.00.
The company has a market cap of $1.15 billion and a price-to-earnings ratio of 83.93. The stock’s 50 day moving average is $51.28 and its 200 day moving average is $44.36.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, August 4th. The medical technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company had revenue of $54.57 million for the quarter, compared to analyst estimates of $52.44 million. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities analysts anticipate that Inogen Inc. will post $0.62 EPS for the current year.
In related news, EVP Matt Scribner sold 4,102 shares of Inogen stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $47.66, for a total transaction of $195,501.32. Following the completion of the transaction, the executive vice president now directly owns 2,738 shares in the company, valued at approximately $130,493.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond Huggenberger sold 20,746 shares of Inogen stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $44.18, for a total value of $916,558.28. Following the transaction, the chief executive officer now owns 27,554 shares of the company’s stock, valued at $1,217,335.72. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new stake in Inogen during the fourth quarter valued at approximately $2,419,000. Cornerstone Capital Management Holdings LLC. boosted its stake 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 valued at $3,746,000 after buying an additional 21,141 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake 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 valued at $10,998,000 after buying an additional 155,800 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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 valued at $40,180,000 after buying an additional 483,304 shares during the last quarter.
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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