StockNews.com Downgrades Inogen (NASDAQ:INGN) to Sell

Inogen (NASDAQ:INGN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other analysts have also recently weighed in on INGN. Stifel Nicolaus upped their price objective on shares of Inogen from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.00.

Inogen Trading Down 4.2 %

NASDAQ:INGN traded down $0.36 during midday trading on Monday, hitting $8.18. 162,297 shares of the stock were exchanged, compared to its average volume of 391,441. Inogen has a one year low of $4.13 and a one year high of $10.64. The company has a market capitalization of $192.88 million, a price-to-earnings ratio of -1.97 and a beta of 1.07. The business has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $7.84.

Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.14. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The firm had revenue of $78.03 million during the quarter, compared to analysts’ expectations of $73.67 million. During the same period in the prior year, the company posted ($0.63) earnings per share. Inogen’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Inogen will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jason Somer sold 10,000 shares of Inogen stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $8.56, for a total transaction of $85,600.00. Following the completion of the sale, the executive vice president now owns 4,452 shares of the company’s stock, valued at approximately $38,109.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inogen

A number of institutional investors have recently added to or reduced their stakes in INGN. Tower Research Capital LLC TRC boosted its stake in shares of Inogen by 84.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 2,419 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Inogen by 2,918.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock valued at $43,000 after buying an additional 7,646 shares during the period. CWM LLC grew its position in Inogen by 2,185.9% during the second quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock valued at $54,000 after buying an additional 6,339 shares during the period. SG Americas Securities LLC boosted its position in Inogen by 27.8% during the fourth quarter. SG Americas Securities LLC now owns 12,782 shares of the medical technology company’s stock worth $70,000 after purchasing an additional 2,782 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Inogen during the first quarter worth about $81,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.