Inogen, Inc (INGN) Earns Hold Rating from Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of Inogen, Inc (NASDAQ:INGN) in a research report sent to investors on Tuesday morning. Piper Jaffray Companies currently has a $90.00 price objective on the medical technology company’s stock.
INGN has been the topic of a number of other reports. Needham & Company LLC lowered their price objective 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 cut shares of Inogen from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Zacks Investment Research cut 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 increased their price objective on shares of Inogen to $102.00 and gave the company an overweight rating in a research note on Monday, June 26th. Four investment 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. The company has a consensus rating of Buy and an average price target of $91.33.
Shares of Inogen (NASDAQ:INGN) traded down 1.9497% during mid-day trading on Tuesday, hitting $101.5703. 128,696 shares of the stock traded hands. Inogen has a 12-month low of $50.24 and a 12-month high of $104.88. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 88.1687 and a beta of 1.02. The firm’s 50 day moving average price is $95.76 and its 200 day moving average price is $87.16.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.10. The firm had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $59.99 million. Inogen had a net margin of 10.36% and a return on equity of 12.45%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, equities research analysts predict that Inogen will post $1.21 EPS for the current fiscal year.
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In related news, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $94.21, for a total value of $235,525.00. Following the transaction, the executive vice president now owns 4,833 shares in the company, valued at $455,316.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond Huggenberger sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $92.96, for a total transaction of $1,301,440.00. Following the completion of the transaction, the director now owns 7,808 shares in the company, valued at approximately $725,831.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,667 shares of company stock worth $4,170,776. Insiders own 5.31% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in Inogen in the first quarter valued at approximately $109,000. Schroder Investment Management Group purchased a new position in Inogen in the second quarter valued at approximately $132,000. Victory Capital Management Inc. raised its holdings in 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 buying an additional 459 shares during the period. Sei Investments Co. raised its holdings in 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 buying an additional 443 shares during the period. Finally, Jane Street Group LLC purchased a new position in Inogen in the first quarter valued at approximately $203,000.
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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