Stock analysts at Needham & Company LLC initiated coverage on shares of Inogen Inc. (NASDAQ:INGN) in a research report issued to clients and investors on Thursday. The brokerage set a “strong-buy” rating on the medical technology company’s stock.
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 research report on Tuesday, October 4th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.83.
Shares of Inogen (NASDAQ:INGN) opened at 63.93 on Thursday. Inogen has a 12 month low of $28.81 and a 12 month high of $69.36. The company’s 50 day moving average price is $65.41 and its 200 day moving average price is $59.28. The stock has a market capitalization of $1.30 billion, a PE ratio of 90.04 and a beta of 1.11.
Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, November 3rd. The medical technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $54.42 million for the quarter, compared to the consensus estimate of $47.89 million. Inogen had a return on equity of 9.59% and a net margin of 7.70%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Equities analysts anticipate that Inogen will post $0.62 earnings per share for the current fiscal year.
In related news, EVP Matt Scribner sold 2,500 shares of Inogen stock in a transaction on Monday, November 14th. The stock was sold at an average price of $63.80, for a total transaction of $159,500.00. Following the completion of the transaction, the executive vice president now directly owns 4,833 shares of the company’s stock, valued at $308,345.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott Wilkinson sold 26,706 shares of Inogen stock in a transaction 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 directly owns 66,050 shares of the company’s stock, valued at $4,071,322. The disclosure for this sale can be found here. 5.18% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of INGN. IFP Advisors Inc boosted its position in shares of Inogen by 0.3% in the second quarter. IFP Advisors Inc now owns 2,086 shares of the medical technology company’s stock valued at $105,000 after buying an additional 6 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Inogen by 40.3% in the second quarter. Teacher Retirement System of Texas now owns 2,208 shares of the medical technology company’s stock valued at $111,000 after buying an additional 634 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Inogen during the third quarter valued at about $116,000. Mason Street Advisors LLC purchased a new position in shares of Inogen during the second quarter valued at about $142,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Inogen during the second quarter valued at about $169,000.
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.