BidaskClub upgraded shares of Inogen, Inc (NASDAQ:INGN) from a buy rating to a strong-buy rating in a report released on Tuesday, August 8th.
A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a buy rating and issued a $96.00 price target on shares of Inogen in a research note on Wednesday, May 10th. Zacks Investment Research cut shares of Inogen from a strong-buy rating to a hold rating in a research note on Tuesday, August 8th. Stifel Nicolaus boosted their price objective on shares of Inogen from $65.00 to $75.00 and gave the stock a hold rating in a report on Wednesday, May 10th. Sidoti initiated coverage on shares of Inogen in a report on Tuesday, April 18th. They issued a neutral rating and a $79.00 price objective for the company. Finally, J P Morgan Chase & Co boosted their price objective on shares of Inogen to $102.00 and gave the stock an overweight rating in a report on Monday, June 26th. Three analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Inogen presently has an average rating of Buy and a consensus price target of $91.60.
Shares of Inogen (NASDAQ:INGN) traded up 0.93% during midday trading on Tuesday, hitting $93.96. The stock had a trading volume of 106,538 shares. The firm has a 50-day moving average price of $94.32 and a 200-day moving average price of $83.24. Inogen has a 1-year low of $50.24 and a 1-year high of $98.33. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 81.56 and a beta of 1.01.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The company had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $59.99 million. Inogen had a net margin of 10.36% and a return on equity of 12.45%. Inogen’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities analysts anticipate that Inogen will post $1.21 EPS for the current fiscal year.
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In other news, insider Scott Wilkinson sold 23,437 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $88.06, for a total value of $2,063,862.22. Following the transaction, the insider now owns 54,088 shares in the company, valued at approximately $4,762,989.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $91.54, for a total transaction of $228,850.00. Following the completion of the transaction, the executive vice president now owns 4,833 shares in the company, valued at approximately $442,412.82. The disclosure for this sale can be found here. Insiders have sold a total of 97,404 shares of company stock worth $8,817,832 over the last three months. 5.31% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in Inogen during the first quarter worth approximately $109,000. Schroder Investment Management Group purchased a new stake in Inogen during the second quarter worth approximately $132,000. Victory Capital Management Inc. raised its stake in shares of Inogen by 36.1% in the first quarter. Victory Capital Management Inc. now owns 1,729 shares of the medical technology company’s stock worth $134,000 after buying an additional 459 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Inogen by 4.1% in the first quarter. State of Alaska Department of Revenue now owns 1,790 shares of the medical technology company’s stock worth $138,000 after buying an additional 70 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Inogen by 38.1% in the second quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock worth $153,000 after buying an additional 443 shares during the period.
Inogen Company Profile
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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