Inogen (INGN) Stock Price Up 5.1%

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Shares of Inogen Inc (NASDAQ:INGN) rose 5.1% during mid-day trading on Thursday . The company traded as high as $139.71 and last traded at $139.01. Approximately 635,100 shares changed hands during trading, an increase of 141% from the average daily volume of 263,327 shares. The stock had previously closed at $132.31.

INGN has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Thursday, September 27th. BidaskClub lowered shares of Inogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Stifel Nicolaus set a $258.00 price target on shares of Inogen and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Needham & Company LLC downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating and raised their price target for the stock from $254.00 to $296.00 in a research report on Monday, September 10th. Finally, ValuEngine downgraded shares of Inogen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $244.67.

The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 106.11, a P/E/G ratio of 2.72 and a beta of 1.56.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. Inogen had a net margin of 12.28% and a return on equity of 18.91%. The business had revenue of $95.29 million during the quarter, compared to the consensus estimate of $90.94 million. During the same quarter last year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Inogen Inc will post 2.1 EPS for the current year.

In other Inogen news, EVP Brenton Taylor sold 5,000 shares of Inogen stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $259.42, for a total value of $1,297,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond Huggenberger sold 10,500 shares of Inogen stock in a transaction on Friday, September 14th. The stock was sold at an average price of $282.57, for a total transaction of $2,966,985.00. Following the completion of the transaction, the director now directly owns 8,797 shares of the company’s stock, valued at approximately $2,485,768.29. The disclosure for this sale can be found here. Insiders have sold 37,500 shares of company stock valued at $9,008,475 in the last three months. Corporate insiders own 5.29% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Inogen by 7.2% in the second quarter. BlackRock Inc. now owns 2,591,083 shares of the medical technology company’s stock worth $482,796,000 after purchasing an additional 173,035 shares during the period. Alliancebernstein L.P. boosted its holdings in Inogen by 43.3% in the third quarter. Alliancebernstein L.P. now owns 373,794 shares of the medical technology company’s stock worth $91,251,000 after purchasing an additional 113,024 shares during the period. Renaissance Technologies LLC boosted its holdings in Inogen by 18.7% in the third quarter. Renaissance Technologies LLC now owns 367,900 shares of the medical technology company’s stock worth $89,812,000 after purchasing an additional 58,086 shares during the period. Fred Alger Management Inc. boosted its holdings in Inogen by 25.5% in the second quarter. Fred Alger Management Inc. now owns 311,349 shares of the medical technology company’s stock worth $58,014,000 after purchasing an additional 63,308 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in Inogen by 40.3% in the second quarter. OppenheimerFunds Inc. now owns 286,147 shares of the medical technology company’s stock worth $53,318,000 after purchasing an additional 82,164 shares during the period. 96.00% of the stock is owned by hedge funds and other institutional investors.

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Inogen Company Profile (NASDAQ:INGN)

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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