Tocqueville Asset Management L.P. Buys New Position in Inogen, Inc $INGN

Tocqueville Asset Management L.P. bought a new stake in shares of Inogen, Inc (NASDAQ:INGN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 93,350 shares of the medical technology company’s stock, valued at approximately $602,000. Tocqueville Asset Management L.P. owned 0.34% of Inogen as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in Inogen during the second quarter worth $11,281,000. Armistice Capital LLC grew its holdings in shares of Inogen by 46.3% during the fourth quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock valued at $8,494,000 after buying an additional 400,000 shares during the last quarter. Kent Lake PR LLC grew its holdings in shares of Inogen by 5.7% during the second quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock valued at $7,461,000 after buying an additional 57,700 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Inogen by 0.8% during the second quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock worth $6,194,000 after acquiring an additional 6,573 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Inogen by 7.9% during the second quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock worth $4,326,000 after acquiring an additional 44,860 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inogen in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Insiders Place Their Bets

In related news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 5,039 shares in the company, valued at approximately $33,257.40. This represents a 68.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Inogen Price Performance

Shares of INGN opened at $5.61 on Friday. Inogen, Inc has a 1 year low of $5.34 and a 1 year high of $9.13. The stock’s fifty day moving average price is $6.36 and its two-hundred day moving average price is $6.36. The firm has a market cap of $148.89 million, a PE ratio of -6.23 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) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $95.08 million during the quarter, compared to the consensus estimate of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 13.17%. Sell-side analysts anticipate that Inogen, Inc will post -0.74 earnings per share for the current fiscal year.

About Inogen

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.