Inogen (INGN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Inogen (NASDAQ:INGN) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $132.00 price target on the medical technology company’s stock.

According to Zacks, “Over the last year, Inogen has outperformed the broader industry in terms of price. The company expects direct-to-consumer sales to be its fastest growing channel, followed by domestic business-to-business sales in the coming quarters, with solid focus in Europe. The company is also upbeat about its full-year 2017 revenue guidance. Solid domestic and international business-to-business sales has been boosting Inogen. The company took a series of strategic initiatives to strengthen its product offerings and market position. On the flip side, declining rental revenues raise concern. Moreover, since the company generates a significant portion of its revenues from the international market, volatile foreign exchange rate will continue to raise concern. Low POC adoption, intensifying competition, reimbursement cuts and foreign exchange headwinds are other major concerns. Reimbursement cuts and foreign exchange headwinds are other major concerns.”

Other analysts have also recently issued reports about the company. BidaskClub upgraded Inogen from a sell rating to a hold rating in a report on Wednesday, January 24th. Leerink Swann restated an outperform rating and issued a $120.00 target price (up from $115.00) on shares of Inogen in a report on Wednesday, November 8th. Finally, Needham & Company LLC upped their target price on Inogen from $108.00 to $125.00 and gave the company a strong-buy rating in a report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Inogen has an average rating of Buy and a consensus price target of $103.29.

Shares of Inogen (NASDAQ:INGN) opened at $116.68 on Tuesday. The stock has a market capitalization of $2,420.00, a price-to-earnings ratio of 81.59, a price-to-earnings-growth ratio of 4.05 and a beta of 1.02. Inogen has a twelve month low of $66.44 and a twelve month high of $130.05.

Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, November 7th. The medical technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company 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 firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. analysts forecast that Inogen will post 1.19 EPS for the current year.

In other news, EVP Matt Scribner sold 2,500 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $112.35, for a total value of $280,875.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Byron Myers sold 35,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $116.77, for a total value of $4,086,950.00. Following the completion of the transaction, the executive vice president now directly owns 48,600 shares in the company, valued at approximately $5,675,022. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,651 shares of company stock worth $13,299,463. Corporate insiders own 5.31% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lenox Wealth Advisors Inc. acquired a new position in Inogen during the 4th quarter worth about $100,000. Steward Partners Investment Advisory LLC lifted its stake in Inogen by 1,000.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 1,000 shares in the last quarter. Simplex Trading LLC acquired a new position in Inogen during the 4th quarter worth about $153,000. Ameritas Investment Partners Inc. lifted its stake in Inogen by 6.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock worth $143,000 after acquiring an additional 86 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its stake in Inogen by 138.6% during the 4th quarter. LS Investment Advisors LLC now owns 1,515 shares of the medical technology company’s stock worth $180,000 after acquiring an additional 880 shares in the last quarter.

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About Inogen

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.

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