Inogen (NASDAQ:INGN) Earns “Hold” Rating from Needham & Company LLC

Inogen (NASDAQ:INGN)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Separately, StockNews.com upgraded Inogen from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Inogen presently has a consensus rating of “Hold” and an average target price of $7.00.

Inogen Price Performance

NASDAQ INGN opened at $9.46 on Friday. The company has a market cap of $224.39 million, a P/E ratio of -2.38 and a beta of 1.04. Inogen has a 12 month low of $4.49 and a 12 month high of $13.33. The company has a 50-day moving average of $9.98 and a 200-day moving average of $9.36.

Inogen (NASDAQ:INGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.31. The company had revenue of $88.77 million for the quarter, compared to the consensus estimate of $82.50 million. Inogen had a negative net margin of 28.30% and a negative return on equity of 45.37%. Inogen’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.42) earnings per share. As a group, equities research analysts anticipate that Inogen will post -1.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP raised its holdings in shares of Inogen by 682.3% during the 2nd quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock valued at $19,079,000 after buying an additional 2,046,766 shares during the period. Brown Capital Management LLC boosted its position in Inogen by 26.6% in the 1st quarter. Brown Capital Management LLC now owns 1,975,312 shares of the medical technology company’s stock valued at $15,941,000 after buying an additional 414,903 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Inogen by 29.3% during the second quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock valued at $4,642,000 after acquiring an additional 129,307 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Inogen during the second quarter worth about $651,000. Finally, Monaco Asset Management SAM acquired a new position in shares of Inogen in the second quarter worth about $610,000. 89.94% of the stock is owned by hedge funds and other 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.