Inogen Inc. (INGN) Stake Reduced by Kalmar Investments Inc. DE
Kalmar Investments Inc. DE decreased its stake in Inogen Inc. (NASDAQ:INGN) by 14.2% during the second quarter, Holdings Channel reports. The institutional investor owned 434,845 shares of the medical technology company’s stock after selling 72,198 shares during the period. Kalmar Investments Inc. DE’s holdings in Inogen were worth $21,790,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in INGN. TIAA CREF Investment Management LLC raised its stake in shares of Inogen by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 100,661 shares of the medical technology company’s stock valued at $4,528,000 after buying an additional 940 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Inogen during the first quarter valued at approximately $238,000. Bogle Investment Management L P DE purchased a new stake in shares of Inogen during the first quarter valued at approximately $861,000. BNP Paribas Arbitrage SA raised its stake in shares of Inogen by 102.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,617 shares of the medical technology company’s stock valued at $231,000 after buying an additional 2,334 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Inogen by 2.8% in the first quarter. Royce & Associates LP now owns 259,455 shares of the medical technology company’s stock valued at $11,670,000 after buying an additional 7,000 shares in the last quarter.
Shares of Inogen Inc. (NASDAQ:INGN) traded down 0.54% on Wednesday, reaching $57.46. The company had a trading volume of 105,210 shares. The company has a 50-day moving average price of $59.11 and a 200-day moving average price of $52.39. The firm has a market capitalization of $1.15 billion, a PE ratio of 84.50 and a beta of 0.88. Inogen Inc. has a 52-week low of $28.81 and a 52-week high of $61.87.
Inogen (NASDAQ:INGN) last announced 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. Inogen had a return on equity of 9.50% and a net margin of 7.86%. The business earned $54.57 million during the quarter, compared to analyst estimates of $52.44 million. During the same period last year, the company earned $0.17 earnings per share. Inogen’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities research analysts forecast that Inogen Inc. will post $0.63 EPS for the current fiscal year.
Several brokerages have recently weighed in on INGN. Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, October 4th. JPMorgan Chase & Co. began coverage on Inogen in a research report on Wednesday, July 13th. They issued an “overweight” rating for the company. Stifel Nicolaus downgraded 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 reaffirmed a “strong-buy” rating and issued a $64.00 target price (up previously 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 issued a buy rating and one has issued a strong buy rating to the stock. Inogen has an average rating of “Buy” and a consensus target price of $58.50.
In related news, EVP Matt Scribner sold 2,320 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $56.39, for a total transaction of $130,824.80. Following the completion of the sale, the executive vice president now directly owns 4,653 shares in the company, valued at $262,382.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Byron Myers sold 13,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $715,000.00. Following the sale, the vice president now owns 35,185 shares of the company’s stock, valued at $1,935,175. The disclosure for this sale can be found here. Corporate insiders own 5.18% of the company’s stock.
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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