Armistice Capital LLC Buys 400,000 Shares of Inogen, Inc $INGN

Armistice Capital LLC lifted its stake in Inogen, Inc (NASDAQ:INGN) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,264,000 shares of the medical technology company’s stock after purchasing an additional 400,000 shares during the period. Armistice Capital LLC owned 4.66% of Inogen worth $8,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP purchased a new stake in Inogen in the fourth quarter worth about $27,000. Torren Management LLC purchased a new position in Inogen during the fourth quarter valued at $51,000. Prelude Capital Management LLC bought a new position in shares of Inogen in the 3rd quarter worth about $82,000. MetLife Investment Management LLC boosted its stake in Inogen by 72.2% during the fourth quarter. MetLife Investment Management LLC now owns 12,699 shares of the medical technology company’s stock worth $85,000 after acquiring an additional 5,325 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Inogen during the first quarter worth about $85,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INGN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inogen in a research note on Friday, May 8th. Freedom Capital raised Inogen to a “strong-buy” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Inogen Price Performance

Inogen stock opened at $6.37 on Thursday. Inogen, Inc has a one year low of $5.34 and a one year high of $9.13. The business’s fifty day moving average is $6.61 and its 200 day moving average is $6.44. The stock has a market capitalization of $172.50 million, a PE ratio of -7.00 and a beta of 1.60.

Inogen (NASDAQ:INGN) last issued its earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). The business had revenue of $85.11 million during the quarter, compared to analysts’ expectations of $82.35 million. Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%. As a group, sell-side analysts expect that Inogen, Inc will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Boyer Jennifer M. Yi sold 10,770 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $6.53, for a total transaction of $70,328.10. Following the transaction, the executive vice president owned 15,977 shares in the company, valued at $104,329.81. This represents a 40.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is currently owned by company insiders.

Inogen Company Profile

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.