Inogen (INGN) Shares Gap Down on Insider Selling

Inogen Inc (NASDAQ:INGN)’s share price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $154.70, but opened at $155.86. Inogen shares last traded at $148.00, with a volume of 18327 shares changing hands.

Specifically, Director Heath Lukatch sold 500 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $261.54, for a total transaction of $130,770.00. Following the sale, the director now owns 4,239 shares in the company, valued at approximately $1,108,668.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raymond Huggenberger sold 10,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $228.63, for a total transaction of $2,400,615.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock worth $11,098,610. Corporate insiders own 5.29% of the company’s stock.

A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Inogen from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut shares of Inogen from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Piper Jaffray Companies lifted their target price on shares of Inogen to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Stifel Nicolaus set a $258.00 target price on shares of Inogen and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, Needham & Company LLC cut shares of Inogen from a “strong-buy” rating to a “buy” rating and lifted their target price for the stock from $254.00 to $296.00 in a research report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $244.67.

The stock has a market cap of $4.13 billion, a PE ratio of 113.60, a PEG ratio of 3.82 and a beta of 1.56.

Inogen (NASDAQ:INGN) last released its quarterly earnings data on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.21. Inogen had a net margin of 12.28% and a return on equity of 19.76%. The firm had revenue of $95.29 million for the quarter, compared to analysts’ expectations of $90.94 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. As a group, equities research analysts forecast that Inogen Inc will post 2.07 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management increased its position in shares of Inogen by 1.6% in the second quarter. Zacks Investment Management now owns 17,033 shares of the medical technology company’s stock valued at $3,174,000 after acquiring an additional 261 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Inogen by 0.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 72,381 shares of the medical technology company’s stock valued at $13,487,000 after acquiring an additional 291 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Inogen by 12.2% in the second quarter. Xact Kapitalforvaltning AB now owns 2,765 shares of the medical technology company’s stock valued at $515,000 after acquiring an additional 300 shares during the period. Advisory Services Network LLC increased its position in shares of Inogen by 162.5% in the third quarter. Advisory Services Network LLC now owns 525 shares of the medical technology company’s stock valued at $128,000 after acquiring an additional 325 shares during the period. Finally, Piedmont Investment Advisors LLC increased its position in shares of Inogen by 9.8% in the second quarter. Piedmont Investment Advisors LLC now owns 4,059 shares of the medical technology company’s stock valued at $756,000 after acquiring an additional 361 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.

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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.

Further Reading: Hedge Funds Explained

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