Zacks Investment Research Lowers Inogen (INGN) to Hold

Inogen (NASDAQ:INGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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.”

INGN has been the topic of a number of other research reports. Needham & Company LLC upped their price objective on Inogen from $108.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 8th. Leerink Swann reaffirmed an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of Inogen in a report on Wednesday, November 8th. Finally, BidaskClub lowered Inogen from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. 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 stock. The company has an average rating of “Buy” and a consensus price target of $103.29.

Inogen (INGN) traded down $0.13 during trading on Wednesday, hitting $118.82. The stock had a trading volume of 21,307 shares, compared to its average volume of 132,594. Inogen has a twelve month low of $64.84 and a twelve month high of $130.05. The stock has a market capitalization of $2,456.02, a PE ratio of 96.75, a PEG ratio of 3.99 and a beta of 1.02.

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

In other Inogen news, Director Heath Lukatch sold 2,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $126.40, for a total value of $316,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott Wilkinson sold 30,651 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $115.75, for a total value of $3,547,853.25. Following the completion of the sale, the insider now directly owns 38,107 shares in the company, valued at approximately $4,410,885.25. The disclosure for this sale can be found here. Insiders have sold 113,651 shares of company stock worth $13,299,463 in the last ninety days. 5.31% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Swiss National Bank lifted its position in shares of Inogen by 6.3% in the fourth quarter. Swiss National Bank now owns 30,500 shares of the medical technology company’s stock valued at $3,632,000 after acquiring an additional 1,800 shares in the last quarter. Lisanti Capital Growth LLC lifted its position in shares of Inogen by 44.2% in the fourth quarter. Lisanti Capital Growth LLC now owns 21,724 shares of the medical technology company’s stock valued at $2,587,000 after acquiring an additional 6,655 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Inogen by 15.8% in the fourth quarter. California Public Employees Retirement System now owns 30,678 shares of the medical technology company’s stock valued at $3,653,000 after acquiring an additional 4,180 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Inogen in the fourth quarter valued at $719,000. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Inogen by 39.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,838 shares of the medical technology company’s stock valued at $576,000 after acquiring an additional 1,368 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.

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