Prudential Financial Inc. Raises Holdings in Inogen, Inc (INGN)
Prudential Financial Inc. grew its position in Inogen, Inc (NASDAQ:INGN) by 99.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,621 shares of the medical technology company’s stock after purchasing an additional 34,701 shares during the period. Prudential Financial Inc. owned about 0.34% of Inogen worth $6,643,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of INGN. Ameritas Investment Partners Inc. acquired a new position in Inogen in the 1st quarter worth about $109,000. Victory Capital Management Inc. increased its position in Inogen by 36.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,729 shares of the medical technology company’s stock worth $134,000 after purchasing an additional 459 shares during the last quarter. Sei Investments Co. increased its position in Inogen by 38.1% in the 2nd quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock worth $153,000 after purchasing an additional 443 shares during the last quarter. Jane Street Group LLC acquired a new position in Inogen in the 1st quarter worth about $203,000. Finally, BNP Paribas Arbitrage SA increased its position in Inogen by 13.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,091 shares of the medical technology company’s stock worth $240,000 after purchasing an additional 370 shares during the last quarter.
In related news, EVP Matt Scribner sold 2,500 shares of Inogen stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $103.23, for a total value of $258,075.00. Following the sale, the executive vice president now owns 6,964 shares of the company’s stock, valued at $718,893.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond Huggenberger sold 14,000 shares of Inogen stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $92.96, for a total value of $1,301,440.00. Following the completion of the sale, the director now directly owns 7,808 shares in the company, valued at approximately $725,831.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,667 shares of company stock worth $4,170,776. 5.31% of the stock is owned by company insiders.
Inogen, Inc (NASDAQ INGN) opened at 100.87 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 87.56 and a beta of 1.02. Inogen, Inc has a one year low of $50.24 and a one year high of $104.88. The stock’s 50 day moving average price is $95.95 and its 200-day moving average price is $87.38.
Inogen (NASDAQ:INGN) last released its earnings results on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. The business had revenue of $64.10 million for the quarter, compared to the consensus estimate of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. Inogen’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Analysts forecast that Inogen, Inc will post $1.21 earnings per share for the current year.
Several research analysts have weighed in on the company. BidaskClub lowered Inogen from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Piper Jaffray Companies reissued a “hold” rating and set a $90.00 price objective on shares of Inogen in a report on Tuesday. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $108.00 price objective on shares of Inogen in a report on Friday, September 1st. Finally, J P Morgan Chase & Co increased their price objective on Inogen to $102.00 and gave the company an “overweight” rating in a report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.33.
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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