Inogen (NASDAQ:INGN) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Inogen (NASDAQ:INGN) from a hold rating to a sell rating in a report issued on Friday morning.

Several other brokerages have also issued reports on INGN. Needham & Company LLC reiterated a hold rating on shares of Inogen in a research report on Wednesday, May 8th. Stifel Nicolaus increased their price target on shares of Inogen from $6.00 to $7.00 and gave the stock a hold rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $7.00.

Inogen Stock Performance

Shares of INGN stock opened at $9.25 on Friday. The company has a market capitalization of $218.12 million, a PE ratio of -2.23 and a beta of 1.07. Inogen has a 52-week low of $4.13 and a 52-week high of $10.64. The business’s fifty day moving average is $8.41 and its 200 day moving average is $7.59.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.14. The firm had revenue of $78.03 million for the quarter, compared to analysts’ expectations of $73.67 million. Inogen had a negative return on equity of 42.87% and a negative net margin of 30.07%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) EPS. On average, sell-side analysts forecast that Inogen will post -2.2 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jason Somer sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $8.56, for a total transaction of $85,600.00. Following the transaction, the executive vice president now directly owns 4,452 shares of the company’s stock, valued at approximately $38,109.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Inogen

Several institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Advisors LLC bought a new stake in Inogen in the first quarter worth $255,000. Federated Hermes Inc. grew its stake in shares of Inogen by 347.2% during the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock valued at $1,458,000 after buying an additional 206,125 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Inogen by 26.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 285,176 shares of the medical technology company’s stock worth $1,566,000 after buying an additional 59,446 shares during the period. Strs Ohio lifted its stake in shares of Inogen by 9.0% in the 4th quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock valued at $226,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Inogen by 153.0% during the 4th quarter. Jump Financial LLC now owns 39,728 shares of the medical technology company’s stock valued at $218,000 after acquiring an additional 24,028 shares during the period. Institutional investors own 89.94% of the company’s stock.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.