Inogen Inc. (INGN) Reaches New 12-Month High at $58.98
Inogen Inc. (NASDAQ:INGN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock 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.
Several equities analysts have recently issued reports on INGN shares. JPMorgan Chase & Co. lifted their price target on Inogen from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Zacks Investment Research lowered Inogen from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $64.00 price target (up previously from $58.00) on shares of Inogen in a research report on Sunday, August 7th. Stifel Nicolaus lowered Inogen from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Inogen in a research report on Wednesday, June 8th. Three research 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 stock. Inogen currently has a consensus rating of “Buy” and a consensus price target of $55.00.
The firm has a 50-day moving average price of $54.39 and a 200 day moving average price of $46.96. The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of 85.97.
Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Thursday, August 4th. The medical technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. During the same period last year, the company earned $0.17 EPS. The business earned $54.57 million during the quarter, compared to the consensus estimate of $52.44 million. The business’s revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts forecast that Inogen Inc. will post $0.63 earnings per share for the current year.
In other Inogen news, CEO Raymond Huggenberger sold 20,747 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $47.86, for a total value of $992,951.42. Following the transaction, the chief executive officer now owns 27,555 shares of the company’s stock, valued at approximately $1,318,782.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Scribner sold 4,102 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $47.66, for a total value 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 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.