Mason Street Advisors LLC Invests $142,000 in Inogen Inc. (INGN)
Mason Street Advisors LLC purchased a new position in Inogen Inc. (NASDAQ:INGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,842 shares of the medical technology company’s stock, valued at approximately $142,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of INGN. IFP Advisors Inc raised its position in shares of Inogen by 0.3% in the second quarter. IFP Advisors Inc now owns 2,086 shares of the medical technology company’s stock valued at $105,000 after buying an additional 6 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Inogen by 40.3% in the second quarter. Teacher Retirement System of Texas now owns 2,208 shares of the medical technology company’s stock valued at $111,000 after buying an additional 634 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Inogen during the second quarter valued at $169,000. Springbok Capital Management LLC raised its position in shares of Inogen by 2.5% in the first quarter. Springbok Capital Management LLC now owns 4,100 shares of the medical technology company’s stock valued at $184,000 after buying an additional 100 shares during the last quarter. Finally, First Mercantile Trust Co. raised its position in shares of Inogen by 75.0% in the second quarter. First Mercantile Trust Co. now owns 4,200 shares of the medical technology company’s stock valued at $210,000 after buying an additional 1,800 shares during the last quarter.
Shares of Inogen Inc. (NASDAQ:INGN) opened at 56.18 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 82.62 and a beta of 0.88. The stock has a 50 day moving average of $59.16 and a 200 day moving average of $52.07. Inogen Inc. has a 52-week low of $28.81 and a 52-week high of $61.87.
Inogen (NASDAQ:INGN) last posted its quarterly earnings results on Thursday, August 4th. The medical technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. Inogen had a net margin of 7.86% and a return on equity of 9.50%. The company had revenue of $54.57 million for the quarter, compared to the consensus estimate of $52.44 million. During the same period last year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, analysts predict that Inogen Inc. will post $0.63 EPS for the current fiscal year.
Several brokerages have weighed in on INGN. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Tuesday, October 4th. JPMorgan Chase & Co. began coverage on shares of Inogen in a research report on Wednesday, July 13th. They set an “overweight” rating on the stock. Stifel Nicolaus lowered shares of 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, Needham & Company LLC restated a “strong-buy” rating and set a $64.00 target price (up from $58.00) on shares of Inogen in a research report on Sunday, August 7th. Three equities 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 company’s stock. Inogen has a consensus rating of “Buy” and a consensus price target of $58.50.
In related news, CEO Raymond Huggenberger sold 20,747 shares of Inogen stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $50.41, for a total value of $1,045,856.27. Following the sale, the chief executive officer now directly owns 27,555 shares in the company, valued at approximately $1,389,047.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Matt Scribner sold 4,551 shares of Inogen stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $59.45, for a total transaction of $270,556.95. Following the completion of the sale, the executive vice president now owns 6,884 shares in the company, valued at $409,253.80. The disclosure for this sale can be found here. 5.18% of the stock is currently owned by insiders.
Inogen Company Profile
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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