Inogen (INGN) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a research note published on Tuesday morning.

INGN has been the subject of a number of other reports. Needham & Company LLC restated a buy rating and issued a $108.00 price objective on shares of Inogen in a research report on Friday, September 1st. Leerink Swann restated an outperform rating and issued a $120.00 price objective (up from $115.00) on shares of Inogen in a research report on Wednesday, November 8th. Zacks Investment Research cut Inogen from a strong-buy rating to a hold rating in a research report on Tuesday, August 8th. Finally, Piper Jaffray Companies restated a hold rating and issued a $90.00 price objective on shares of Inogen in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $103.14.

Shares of Inogen (NASDAQ:INGN) opened at $118.31 on Tuesday. The company has a market capitalization of $2,485.66, a P/E ratio of 96.83, a PEG ratio of 5.00 and a beta of 1.13. Inogen has a 12-month low of $60.02 and a 12-month high of $130.05.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, November 7th. The medical technology company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. The business had revenue of $69.00 million during the quarter, compared to analysts’ expectations of $63.55 million. Inogen had a return on equity of 13.37% and a net margin of 11.36%. The business’s revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. analysts forecast that Inogen will post 1.19 EPS for the current fiscal year.

In related news, EVP Alison Bauerlein sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $94.93, for a total transaction of $1,423,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matt Scribner sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $103.23, for a total value of $258,075.00. Following the sale, the executive vice president now owns 6,964 shares of the company’s stock, valued at $718,893.72. The disclosure for this sale can be found here. Insiders have sold 88,000 shares of company stock valued at $9,349,730 over the last quarter. 5.31% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in Inogen in the 3rd quarter valued at $1,395,000. California Public Employees Retirement System grew its holdings in Inogen by 31.2% in the 3rd quarter. California Public Employees Retirement System now owns 26,498 shares of the medical technology company’s stock valued at $2,520,000 after buying an additional 6,298 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Inogen by 1,895.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,882 shares of the medical technology company’s stock valued at $1,510,000 after buying an additional 15,086 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Inogen by 3.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 40,629 shares of the medical technology company’s stock valued at $3,864,000 after buying an additional 1,490 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Inogen by 8.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 77,273 shares of the medical technology company’s stock valued at $7,349,000 after buying an additional 5,917 shares in the last quarter.

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Inogen Company Profile

Inogen, Inc is a medical technology company. The Company develops, manufactures and markets 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.

Analyst Recommendations for Inogen (NASDAQ:INGN)

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