BlackRock Inc. decreased its holdings in shares of Inogen Inc (NASDAQ:INGN) by 17.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,139,430 shares of the medical technology company’s stock after selling 451,653 shares during the quarter. BlackRock Inc. owned 10.02% of Inogen worth $522,278,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its holdings in shares of Inogen by 40.3% in the second quarter. OppenheimerFunds Inc. now owns 286,147 shares of the medical technology company’s stock valued at $53,318,000 after purchasing an additional 82,164 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of Inogen by 382.8% in the second quarter. WINTON GROUP Ltd now owns 67,012 shares of the medical technology company’s stock valued at $12,486,000 after purchasing an additional 53,133 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Inogen in the second quarter valued at approximately $186,000. Calamos Advisors LLC purchased a new stake in shares of Inogen in the third quarter valued at approximately $415,000. Finally, Raymond James & Associates boosted its holdings in shares of Inogen by 47.2% in the second quarter. Raymond James & Associates now owns 3,519 shares of the medical technology company’s stock valued at $656,000 after purchasing an additional 1,129 shares during the period. 98.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on INGN shares. Zacks Investment Research upgraded Inogen from a “hold” rating to a “buy” rating and set a $262.00 price target for the company in a report on Wednesday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $280.00 price target (down previously from $296.00) on shares of Inogen in a report on Wednesday, November 7th. BidaskClub lowered Inogen from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. ValuEngine lowered Inogen from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Finally, Piper Jaffray Companies boosted their price target on Inogen from $245.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Inogen has a consensus rating of “Buy” and an average target price of $244.67.
Inogen stock opened at $138.92 on Friday. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 106.05, a P/E/G ratio of 2.79 and a beta of 1.49. Inogen Inc has a twelve month low of $112.78 and a twelve month high of $287.79.
Inogen (NASDAQ:INGN) last posted its earnings results on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. The company had revenue of $95.29 million during the quarter, compared to analyst estimates of $90.94 million. Inogen had a return on equity of 18.91% and a net margin of 12.28%. Inogen’s revenue was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities analysts forecast that Inogen Inc will post 2.1 EPS for the current year.
In other Inogen news, Director Loren L. Mcfarland sold 2,000 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $155.24, for a total transaction of $310,480.00. Following the completion of the sale, the director now owns 2,989 shares in the company, valued at $464,012.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brenton Taylor sold 5,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $244.77, for a total value of $1,223,850.00. Following the sale, the executive vice president now owns 41,297 shares of the company’s stock, valued at approximately $10,108,266.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $7,580,605. 5.29% of the stock is owned by company insiders.
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: Why do corrections happen?
Want to see what other hedge funds are holding INGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inogen Inc (NASDAQ:INGN).
Receive News & Ratings for Inogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inogen and related companies with MarketBeat.com's FREE daily email newsletter.