Inogen Inc. (INGN) Reaches New 12-Month High at $58.98
Inogen Inc. (NASDAQ:INGN) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $58.98 and last traded at $58.21, with a volume of 81,221 shares traded. The stock had previously closed at $57.51.
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Inogen in a research report on Wednesday, July 13th. They issued an “overweight” rating on the stock. Leerink Swann restated an “outperform” rating and issued a $60.00 price target on shares of Inogen in a research report on Wednesday, June 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $58.00 target price (up previously from $47.00) on shares of Inogen in a research report on Tuesday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 target price (up previously from $46.00) on shares of Inogen in a research report on Tuesday, May 10th. Finally, Zacks Investment Research downgraded shares of Inogen from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Inogen has an average rating of “Buy” and an average price target of $55.00.
The company’s 50 day moving average price is $54.02 and its 200 day moving average price is $46.30. The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of 85.75.
Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Thursday, August 4th. The medical technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business had revenue of $54.57 million for the quarter, compared to the consensus estimate of $52.44 million. The firm’s revenue was up 23.9% on a year-over-year basis. Equities research analysts forecast that Inogen Inc. will post $0.63 earnings per share for the current fiscal year.
In other Inogen news, EVP Matt Scribner sold 4,102 shares of the stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $47.66, for a total transaction of $195,501.32. Following the transaction, the executive vice president now directly owns 2,738 shares in the company, valued at $130,493.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raymond Huggenberger sold 20,747 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $57.48, for a total transaction of $1,192,537.56. Following the transaction, the chief executive officer now owns 27,555 shares in the company, valued at $1,583,861.40. The disclosure for this sale can be found here.
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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