Inogen Inc. (NASDAQ:INGN) had its price objective hoisted by Needham & Company LLC from $66.00 to $78.00 in a note issued to investors on Thursday. The firm currently has a “strong-buy” rating on the medical technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 22.08% from the stock’s current price.
Separately, Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, October 4th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.83.
Shares of Inogen (NASDAQ:INGN) opened at 63.93 on Thursday. The firm has a market capitalization of $1.30 billion, a PE ratio of 90.04 and a beta of 1.11. The stock has a 50 day moving average price of $65.41 and a 200-day moving average price of $59.28. Inogen has a 52-week low of $28.81 and a 52-week high of $69.36.
Inogen (NASDAQ:INGN) last issued its earnings results on Thursday, November 3rd. The medical technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Inogen had a return on equity of 9.59% and a net margin of 7.70%. The business earned $54.42 million during the quarter, compared to analyst estimates of $47.89 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue was up 33.5% compared to the same quarter last year. Equities analysts forecast that Inogen will post $0.62 EPS for the current year.
In other news, insider Scott Wilkinson sold 26,706 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $61.64, for a total value of $1,646,157.84. Following the transaction, the insider now owns 66,050 shares in the company, valued at approximately $4,071,322. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brenton Taylor sold 31,823 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $65.69, for a total value of $2,090,452.87. Following the completion of the transaction, the executive vice president now owns 63,674 shares in the company, valued at approximately $4,182,745.06. The disclosure for this sale can be found here. 5.18% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Brown Capital Management LLC acquired a new position in shares of Inogen during the second quarter worth $60,117,000. BlackRock Fund Advisors increased its position in shares of Inogen by 11.5% in the third quarter. BlackRock Fund Advisors now owns 1,179,565 shares of the medical technology company’s stock worth $70,656,000 after buying an additional 121,397 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Inogen by 24.5% in the second quarter. Vanguard Group Inc. now owns 891,757 shares of the medical technology company’s stock worth $44,686,000 after buying an additional 175,696 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Inogen by 28.7% in the second quarter. Dimensional Fund Advisors LP now owns 456,991 shares of the medical technology company’s stock worth $22,899,000 after buying an additional 101,922 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Inogen by 3.6% in the third quarter. JPMorgan Chase & Co. now owns 443,200 shares of the medical technology company’s stock worth $26,548,000 after buying an additional 15,425 shares during the last quarter.
Inogen Company Profile
Inogen, Inc is a medical technology company. The Company is engaged in developing, manufacturing and marketing portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device weighing approximately 4.8 or seven pounds.