Inogen, Inc (INGN) Reaches New 52-Week High at $98.78
Inogen, Inc (NASDAQ:INGN) shares hit a new 52-week high on Wednesday . The company traded as high as $98.78 and last traded at $98.78, with a volume of 101,440 shares trading hands. The stock had previously closed at $97.33.
A number of brokerages recently weighed in on INGN. Needham & Company LLC decreased their price target on shares of Inogen from $108.00 to $96.00 and set a “strong-buy” rating on the stock in a research note on Thursday, June 8th. BidaskClub lowered shares of Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Inogen from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, J P Morgan Chase & Co raised their price target on shares of Inogen to $102.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $91.60.
The firm has a 50-day moving average price of $94.64 and a 200-day moving average price of $86.04. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 87.49 and a beta of 1.02.
Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.10. Inogen had a net margin of 10.36% and a return on equity of 12.45%. The company had revenue of $64.10 million for the quarter, compared to the consensus estimate of $59.99 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Inogen, Inc will post $1.21 earnings per share for the current fiscal year.
In other Inogen news, EVP Matt Scribner sold 2,500 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $91.54, for a total value of $228,850.00. Following the sale, the executive vice president now owns 4,833 shares of the company’s stock, valued at $442,412.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alison Bauerlein sold 6,667 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $92.64, for a total transaction of $617,630.88. Following the completion of the sale, the executive vice president now directly owns 15,000 shares in the company, valued at approximately $1,389,600. The disclosure for this sale can be found here. Insiders sold 57,467 shares of company stock worth $5,288,415 in the last ninety days. Insiders own 5.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group purchased a new stake in shares of Inogen in the second quarter valued at about $132,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Inogen in the first quarter valued at about $109,000. Sei Investments Co. lifted its holdings in shares of Inogen by 38.1% in the second quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock valued at $153,000 after purchasing an additional 443 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Inogen by 36.1% in the first quarter. Victory Capital Management Inc. now owns 1,729 shares of the medical technology company’s stock valued at $134,000 after purchasing an additional 459 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Inogen by 4.1% during the first quarter. State of Alaska Department of Revenue now owns 1,790 shares of the medical technology company’s stock valued at $138,000 after buying an additional 70 shares during the period.
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Inogen Company Profile
Inogen, Inc is a medical technology company. The Company develops, manufactures and markets 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.
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