Needham & Company LLC Downgrades Inogen (INGN) to Buy
Needham & Company LLC lowered shares of Inogen (NASDAQ:INGN) from a strong-buy rating to a buy rating in a research note published on Monday morning, Marketbeat reports. The firm currently has $296.00 price objective on the medical technology company’s stock, up from their prior price objective of $254.00.
Several other research analysts have also issued reports on INGN. Zacks Investment Research upgraded shares of Inogen from a hold rating to a buy rating and set a $276.00 price target for the company in a research note on Tuesday, August 28th. Piper Jaffray Companies increased their price target on shares of Inogen to $245.00 and gave the stock an overweight rating in a research note on Tuesday, August 7th. BidaskClub lowered shares of Inogen from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. KeyCorp assumed coverage on shares of Inogen in a research note on Wednesday, June 6th. They issued an equal weight rating for the company. Finally, Stifel Nicolaus set a $258.00 price target on shares of Inogen and gave the stock a buy rating in a research note on Tuesday, August 21st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Inogen presently has a consensus rating of Buy and an average target price of $245.00.
Shares of NASDAQ INGN opened at $278.07 on Monday. Inogen has a 12 month low of $91.80 and a 12 month high of $287.79. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 212.27, a P/E/G ratio of 5.41 and a beta of 1.24.
In other Inogen news, EVP Byron Myers sold 1,846 shares of the firm’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $190.04, for a total transaction of $350,813.84. Following the completion of the sale, the executive vice president now directly owns 39,121 shares in the company, valued at approximately $7,434,554.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brenton Taylor sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $184.40, for a total transaction of $922,000.00. Following the sale, the executive vice president now owns 41,576 shares of the company’s stock, valued at $7,666,614.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,710 shares of company stock valued at $21,855,102. 5.29% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new stake in Inogen during the 2nd quarter valued at about $112,000. Advisors Preferred LLC bought a new stake in Inogen during the 2nd quarter valued at about $176,000. Thompson Siegel & Walmsley LLC bought a new stake in Inogen during the 2nd quarter valued at about $186,000. Raymond James Financial Services Advisors Inc. bought a new stake in Inogen during the 2nd quarter valued at about $216,000. Finally, SG Americas Securities LLC bought a new stake in Inogen during the 1st quarter valued at about $178,000. Institutional investors and hedge funds own 96.49% of the company’s stock.
Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
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