ClariVest Asset Management LLC Takes $1.10 Million Position in Inogen Inc (INGN)
ClariVest Asset Management LLC purchased a new stake in shares of Inogen Inc (NASDAQ:INGN) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,496 shares of the medical technology company’s stock, valued at approximately $1,097,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INGN. Catalyst Capital Advisors LLC bought a new position in shares of Inogen during the second quarter valued at about $112,000. Harvest Fund Management Co. Ltd purchased a new stake in Inogen during the third quarter worth about $128,000. Advisory Services Network LLC increased its holdings in Inogen by 162.5% during the third quarter. Advisory Services Network LLC now owns 525 shares of the medical technology company’s stock worth $128,000 after buying an additional 325 shares during the last quarter. First Quadrant L P CA purchased a new stake in Inogen during the third quarter worth about $134,000. Finally, Flagship Harbor Advisors LLC increased its holdings in Inogen by 1,090.9% during the third quarter. Flagship Harbor Advisors LLC now owns 655 shares of the medical technology company’s stock worth $157,000 after buying an additional 600 shares during the last quarter. 96.94% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on INGN. BidaskClub upgraded shares of Inogen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 7th. Zacks Investment Research downgraded shares of Inogen from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Stifel Nicolaus set a $258.00 price objective on shares of Inogen and gave the stock a “buy” rating in a report on Tuesday, August 21st. Piper Jaffray Companies raised their price objective on shares of Inogen to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Finally, Needham & Company LLC downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating and raised their price objective for the stock from $254.00 to $296.00 in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Inogen has a consensus rating of “Buy” and a consensus price target of $244.67.
Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. Inogen had a net margin of 12.28% and a return on equity of 18.91%. The business had revenue of $95.29 million during the quarter, compared to the consensus estimate of $90.94 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. As a group, analysts forecast that Inogen Inc will post 2.1 EPS for the current fiscal year.
In other news, Director Raymond Huggenberger sold 10,500 shares of Inogen stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $282.57, for a total value of $2,966,985.00. Following the completion of the transaction, the director now owns 8,797 shares in the company, valued at $2,485,768.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heath Lukatch sold 500 shares of Inogen stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $261.54, for a total transaction of $130,770.00. Following the completion of the transaction, the director now owns 4,239 shares of the company’s stock, valued at approximately $1,108,668.06. The disclosure for this sale can be found here. Insiders sold 37,500 shares of company stock valued at $9,008,475 in the last quarter. Corporate insiders own 5.29% of the company’s stock.
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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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