Congress Asset Management Co. MA lessened its holdings in shares of Inogen Inc (NASDAQ:INGN) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 34,511 shares of the medical technology company’s stock after selling 2,664 shares during the period. Congress Asset Management Co. MA owned 0.16% of Inogen worth $8,425,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Inogen during the second quarter worth $112,000. First Quadrant L P CA bought a new stake in shares of Inogen during the third quarter worth $134,000. Advisors Preferred LLC bought a new stake in shares of Inogen during the second quarter worth $176,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Inogen during the second quarter worth $186,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Inogen during the second quarter worth $216,000. Institutional investors own 96.99% of the company’s stock.
Shares of INGN opened at $187.12 on Friday. Inogen Inc has a 12-month low of $94.46 and a 12-month high of $287.79. The firm has a market cap of $4.00 billion, a PE ratio of 105.72, a PEG ratio of 3.70 and a beta of 1.25.
In other news, EVP Brenton Taylor sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $197.80, for a total transaction of $989,000.00. Following the transaction, the executive vice president now owns 41,576 shares of the company’s stock, valued at $8,223,732.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Wilkinson sold 17,188 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $200.16, for a total value of $3,440,350.08. Following the transaction, the insider now directly owns 41,664 shares in the company, valued at approximately $8,339,466.24. The disclosure for this sale can be found here. Insiders have sold 95,141 shares of company stock worth $21,660,725 in the last ninety days. 5.29% of the stock is currently owned by insiders.
Several brokerages have recently commented on INGN. BidaskClub cut Inogen from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded Inogen from a “hold” rating to a “strong-buy” rating and set a $214.00 target price on the stock in a report on Monday, July 2nd. Piper Jaffray Companies increased their target price on Inogen to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Needham & Company LLC increased their target price on Inogen from $215.00 to $254.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 8th. Finally, Stifel Nicolaus set a $258.00 price target on Inogen and gave the company a “buy” rating in a research note on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Inogen currently has a consensus rating of “Buy” and an average price target of $247.33.
Inogen Company Profile
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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