Inogen (NASDAQ:INGN) Rating Increased to Hold at StockNews.com

Inogen (NASDAQ:INGN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other research firms have also recently weighed in on INGN. Stifel Nicolaus lifted their target price on Inogen from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Inogen presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Inogen Trading Down 2.5 %

Shares of INGN opened at $12.18 on Tuesday. Inogen has a 1-year low of $4.13 and a 1-year high of $12.65. The business’s 50-day moving average price is $8.87 and its 200 day moving average price is $8.10. The stock has a market capitalization of $287.17 million, a P/E ratio of -2.93 and a beta of 1.07.

Inogen (NASDAQ:INGN) last released its earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.31. Inogen had a negative return on equity of 42.87% and a negative net margin of 30.07%. The company had revenue of $88.77 million for the quarter, compared to analysts’ expectations of $82.50 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts predict that Inogen will post -2.2 earnings per share for the current year.

Hedge Funds Weigh In On Inogen

A number of hedge funds have recently added to or reduced their stakes in INGN. Tower Research Capital LLC TRC increased its holdings in Inogen by 84.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock worth $29,000 after buying an additional 2,419 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Inogen in the second quarter worth approximately $30,000. PNC Financial Services Group Inc. increased its holdings in Inogen by 2,918.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock worth $43,000 after buying an additional 7,646 shares during the last quarter. CWM LLC boosted 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 worth $54,000 after purchasing an additional 6,339 shares during the period. Finally, 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. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.