Pitcairn Co. Invests $86,000 in Inogen, Inc. (NASDAQ:INGN)

Pitcairn Co. bought a new stake in shares of Inogen, Inc. (NASDAQ:INGN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,618 shares of the medical technology company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Inogen by 4.9% during the first quarter. Vanguard Group Inc. now owns 1,424,026 shares of the medical technology company’s stock valued at $11,492,000 after purchasing an additional 65,954 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Inogen by 26.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 285,176 shares of the medical technology company’s stock valued at $1,566,000 after purchasing an additional 59,446 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Inogen by 347.2% during the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock valued at $1,458,000 after acquiring an additional 206,125 shares during the period. Tocqueville Asset Management L.P. raised its holdings in shares of Inogen by 27.3% during the first quarter. Tocqueville Asset Management L.P. now owns 93,350 shares of the medical technology company’s stock valued at $753,000 after acquiring an additional 20,000 shares during the period. Finally, Stokes Family Office LLC acquired a new stake in shares of Inogen during the first quarter valued at approximately $351,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Inogen Stock Up 3.2 %

Shares of INGN opened at $9.70 on Friday. The company’s 50 day moving average price is $8.46 and its 200 day moving average price is $7.68. Inogen, Inc. has a 52 week low of $4.13 and a 52 week high of $10.64.

Inogen (NASDAQ:INGN) last posted its earnings results on Tuesday, May 7th. The medical technology company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.14. The firm had revenue of $78.03 million during the quarter, compared to analysts’ expectations of $73.67 million. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) earnings per share. As a group, equities research analysts anticipate that Inogen, Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Inogen

In other Inogen news, EVP Jason Somer sold 10,000 shares of Inogen stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $8.56, for a total value of $85,600.00. Following the completion of the sale, the executive vice president now directly owns 4,452 shares in the company, valued at $38,109.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Inogen from $6.00 to $7.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. StockNews.com downgraded shares of Inogen from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.00.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.