Short Interest in Inogen Inc (INGN) Rises By 43.3%

Inogen Inc (NASDAQ:INGN) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,586,018 shares, a growth of 43.3% from the September 28th total of 1,106,604 shares. Based on an average daily volume of 435,432 shares, the short-interest ratio is currently 3.6 days. Currently, 9.0% of the company’s shares are short sold.

Shares of INGN stock opened at $185.04 on Tuesday. Inogen has a 52 week low of $96.71 and a 52 week high of $287.79. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 141.25, a price-to-earnings-growth ratio of 3.70 and a beta of 1.26.

Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, August 7th. The medical technology company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.21. Inogen had a net margin of 10.39% and a return on equity of 16.51%. The company had revenue of $97.24 million during the quarter, compared to analysts’ expectations of $81.61 million. As a group, equities research analysts forecast that Inogen will post 2.07 earnings per share for the current fiscal year.



Several research firms recently weighed in on INGN. BidaskClub downgraded shares of Inogen from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Thursday, September 27th. Piper Jaffray Companies lifted their target price on shares of Inogen from $245.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. Needham & Company LLC downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating and lifted their target price for the company from $254.00 to $296.00 in a report on Monday, September 10th. Finally, Stifel Nicolaus set a $258.00 target price on shares of Inogen and gave the company a “buy” rating in a report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $247.33.

In related news, Director Heath Lukatch sold 500 shares of Inogen stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $210.87, for a total value of $105,435.00. Following the completion of the sale, the director now owns 1,489 shares in the company, valued at approximately $313,985.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond Huggenberger sold 10,500 shares of Inogen stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $196.62, for a total transaction of $2,064,510.00. Following the completion of the sale, the director now owns 8,797 shares of the company’s stock, valued at approximately $1,729,666.14. The disclosure for this sale can be found here. Insiders sold a total of 95,141 shares of company stock valued at $21,660,725 in the last quarter. 5.29% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Catalyst Capital Advisors LLC purchased a new position in Inogen in the 2nd quarter valued at approximately $112,000. First Quadrant L P CA purchased a new position in Inogen in the 3rd quarter valued at approximately $134,000. Advisors Preferred LLC purchased a new position in Inogen in the 2nd quarter valued at approximately $176,000. Thompson Siegel & Walmsley LLC purchased a new position in Inogen in the 2nd quarter valued at approximately $186,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Inogen in the 2nd quarter valued at approximately $216,000. 96.65% of the stock is owned by institutional investors.

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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