Renaissance Technologies LLC Sells 104,200 Shares of Inogen, Inc $INGN

Renaissance Technologies LLC trimmed its holdings in Inogen, Inc (NASDAQ:INGN) by 17.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 478,800 shares of the medical technology company’s stock after selling 104,200 shares during the period. Renaissance Technologies LLC’s holdings in Inogen were worth $2,959,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Inogen during the fourth quarter worth about $27,000. Torren Management LLC bought a new position in Inogen in the 4th quarter worth approximately $51,000. Prelude Capital Management LLC bought a new position in Inogen in the 3rd quarter worth approximately $82,000. Corient Private Wealth LLC purchased a new stake in Inogen during the 4th quarter valued at approximately $84,000. Finally, MetLife Investment Management LLC raised its position in shares of Inogen by 72.2% during the fourth quarter. MetLife Investment Management LLC now owns 12,699 shares of the medical technology company’s stock valued at $85,000 after buying an additional 5,325 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Insider Buying and Selling at Inogen

In related news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.60, for a total value of $72,190.80. Following the sale, the executive vice president owned 5,039 shares in the company, valued at approximately $33,257.40. The trade was a 68.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Inogen Trading Down 6.8%

Shares of Inogen stock opened at $6.05 on Friday. The stock has a 50 day moving average of $6.46 and a 200 day moving average of $6.38. Inogen, Inc has a 12 month low of $5.34 and a 12 month high of $9.13. The firm has a market cap of $163.83 million, a PE ratio of -6.72 and a beta of 1.55.

Inogen (NASDAQ:INGN) last released its quarterly earnings data on Thursday, August 6th. The medical technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $95.08 million for the quarter, compared to the consensus estimate of $95.23 million. Inogen had a negative return on equity of 12.89% and a negative net margin of 6.94%. As a group, equities research analysts forecast that Inogen, Inc will post -0.77 earnings per share for the current fiscal year.

Inogen Profile

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.