ValuEngine Lowers Inogen (INGN) to Hold

ValuEngine cut shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

INGN has been the subject of several other reports. BidaskClub cut shares of Inogen from a strong-buy rating to a buy rating in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of Inogen from a buy rating to a hold rating in a research report on Wednesday, September 5th. Needham & Company LLC reaffirmed a buy rating and issued a $280.00 target price (down from $296.00) on shares of Inogen in a research report on Wednesday. Finally, Stifel Nicolaus set a $258.00 target price on shares of Inogen and gave the stock a buy rating in a research report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Inogen currently has an average rating of Buy and an average price target of $244.67.

Shares of NASDAQ:INGN traded down $0.30 on Wednesday, hitting $148.51. The company had a trading volume of 867,075 shares, compared to its average volume of 491,948. Inogen has a 1 year low of $111.49 and a 1 year high of $287.79. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 113.37, a P/E/G ratio of 3.06 and a beta of 1.56.

Inogen (NASDAQ:INGN) last posted its earnings results on Tuesday, November 6th. The medical technology company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.21. Inogen had a net margin of 12.28% and a return on equity of 18.91%. The firm had revenue of $95.29 million during the quarter, compared to analysts’ expectations of $90.94 million. During the same period last year, the company posted $0.33 EPS. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. On average, equities research analysts expect that Inogen will post 2.1 earnings per share for the current fiscal year.

In related news, Director Raymond Huggenberger sold 10,500 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $228.63, for a total value of $2,400,615.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brenton Taylor sold 5,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $259.42, for a total transaction of $1,297,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,000 shares of company stock valued at $11,098,610. 5.29% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Inogen by 7.2% during the 2nd quarter. BlackRock Inc. now owns 2,591,083 shares of the medical technology company’s stock valued at $482,796,000 after purchasing an additional 173,035 shares in the last quarter. Alliancebernstein L.P. increased its stake in Inogen by 43.3% during the 3rd quarter. Alliancebernstein L.P. now owns 373,794 shares of the medical technology company’s stock valued at $91,251,000 after purchasing an additional 113,024 shares in the last quarter. Fred Alger Management Inc. increased its stake in Inogen by 25.5% during the 2nd quarter. Fred Alger Management Inc. now owns 311,349 shares of the medical technology company’s stock valued at $58,014,000 after purchasing an additional 63,308 shares in the last quarter. Renaissance Technologies LLC increased its stake in Inogen by 19.9% during the 2nd quarter. Renaissance Technologies LLC now owns 309,814 shares of the medical technology company’s stock valued at $57,728,000 after purchasing an additional 51,314 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Inogen by 40.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 286,147 shares of the medical technology company’s stock valued at $53,318,000 after purchasing an additional 82,164 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

About Inogen

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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