Inogen, Inc (INGN) Given Consensus Recommendation of “Buy” by Brokerages
Inogen, Inc (NASDAQ:INGN) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $91.00.
A number of analysts recently commented on INGN shares. Zacks Investment Research raised Inogen from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research note on Monday, May 15th. Needham & Company LLC decreased their price objective on Inogen from $108.00 to $96.00 and set a “strong-buy” rating on the stock in a research note on Thursday, June 8th. J P Morgan Chase & Co increased their price objective on Inogen to $102.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Stifel Nicolaus increased their price objective on Inogen from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Finally, BidaskClub lowered Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st.
Inogen (NASDAQ INGN) opened at 94.13 on Wednesday. Inogen has a 12-month low of $50.24 and a 12-month high of $98.33. The stock has a 50 day moving average of $94.24 and a 200 day moving average of $84.28. The stock has a market cap of $1.95 billion, a P/E ratio of 81.71 and a beta of 1.01.
Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.10. The company had revenue of $64.10 million for the quarter, compared to analyst estimates of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. Inogen’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities research analysts anticipate that Inogen will post $1.21 earnings per share for the current fiscal year.
In related news, EVP Matt Scribner sold 2,500 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $92.45, for a total transaction of $231,125.00. Following the transaction, the executive vice president now directly owns 6,964 shares in the company, valued at $643,821.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Wilkinson sold 23,437 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $88.06, for a total value of $2,063,862.22. Following the transaction, the insider now owns 54,088 shares in the company, valued at $4,762,989.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,904 shares of company stock worth $8,252,277. Corporate insiders own 5.31% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in INGN. Dynamic Technology Lab Private Ltd acquired a new position in Inogen during the second quarter valued at $442,000. Koch Industries Inc. increased its position in Inogen by 19,485.8% in the second quarter. Koch Industries Inc. now owns 657,102 shares of the medical technology company’s stock valued at $650,000 after buying an additional 653,747 shares during the period. Verition Fund Management LLC acquired a new position in Inogen during the second quarter valued at $280,000. Piedmont Investment Advisors LLC acquired a new position in Inogen during the second quarter valued at $336,000. Finally, Ameritas Investment Partners Inc. increased its position in Inogen by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock valued at $143,000 after buying an additional 86 shares during the period.
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.
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