Inogen (NASDAQ:INGN) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Inogen (NASDAQ:INGN) from a sell rating to a hold rating in a report published on Monday morning.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of Inogen from $6.00 to $7.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a hold rating on shares of Inogen in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $7.00.

Inogen Stock Up 2.6 %

Shares of NASDAQ INGN opened at $7.97 on Monday. The company’s fifty day moving average is $7.94 and its 200-day moving average is $7.26. The stock has a market cap of $187.93 million, a price-to-earnings ratio of -1.92 and a beta of 1.07. Inogen has a twelve month low of $4.13 and a twelve month high of $11.98.

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

Insiders Place Their Bets

In other Inogen news, EVP Jason Somer sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $8.56, for a total transaction of $85,600.00. Following the sale, 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Inogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in shares of Inogen by 84.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 2,419 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Inogen by 2,918.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 7,646 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Inogen by 27.8% during the 4th quarter. SG Americas Securities LLC now owns 12,782 shares of the medical technology company’s stock worth $70,000 after purchasing an additional 2,782 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Inogen during the 3rd quarter worth approximately $79,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Inogen during the 1st quarter worth approximately $81,000. 89.94% of the stock is owned by institutional investors.

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.