Zacks Investment Research upgraded shares of Inogen (NASDAQ:INGN) from a hold rating to a buy rating in a research note released on Tuesday, January 9th. They currently have $128.00 price target on the medical technology company’s stock.
According to Zacks, “Over the last six months, Inogen has outperformed the broader industry in terms of price. The company expects direct-to-consumer sales to be its fastest growing channel, followed by domestic business-to-business sales in the coming quarters, with solid focus in Europe. The company is also upbeat about its full-year 2017 revenue guidance. Solid domestic and international business-to-business sales has been boosting Inogen. The company took a series of strategic initiatives to strengthen its product offerings and market position. On the flip side, declining rental revenues raise concern. Moreover, since the company generates a significant portion of its revenues from the international market, volatile foreign exchange rate will continue to raise concern. Low POC adoption, intensifying competition, reimbursement cuts and foreign exchange headwinds are other major concerns.”
INGN has been the subject of several other reports. BidaskClub lowered Inogen from a hold rating to a sell rating in a research note on Saturday, January 6th. Needham & Company LLC boosted their price objective on Inogen from $108.00 to $125.00 and gave the stock a strong-buy rating in a research note on Wednesday, November 8th. Piper Jaffray Companies reiterated a hold rating and set a $90.00 price objective on shares of Inogen in a research note on Tuesday, September 12th. Finally, Leerink Swann restated an outperform rating and issued a $120.00 price target (up from $115.00) on shares of Inogen in a research report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Inogen currently has an average rating of Buy and a consensus price target of $102.71.
Shares of Inogen (INGN) traded down $2.73 during mid-day trading on Tuesday, hitting $117.68. The stock had a trading volume of 92,337 shares, compared to its average volume of 126,849. The firm has a market cap of $2,440.00, a PE ratio of 82.29, a PEG ratio of 4.08 and a beta of 1.02. Inogen has a fifty-two week low of $64.42 and a fifty-two week high of $130.05.
Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Tuesday, November 7th. The medical technology company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Inogen had a return on equity of 13.37% and a net margin of 11.36%. The firm had revenue of $69.00 million during the quarter, compared to analyst estimates of $63.55 million. During the same quarter in the previous year, the business earned $0.25 EPS. Inogen’s revenue for the quarter was up 26.8% compared to the same quarter last year. research analysts forecast that Inogen will post 1.19 earnings per share for the current fiscal year.
In other Inogen news, Director Heath Lukatch sold 2,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $126.40, for a total transaction of $316,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond Huggenberger sold 13,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $116.19, for a total value of $1,510,470.00. Following the sale, the director now directly owns 10,208 shares in the company, valued at approximately $1,186,067.52. The disclosure for this sale can be found here. Insiders have sold 113,651 shares of company stock worth $13,299,463 over the last 90 days. 5.31% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of INGN. Pinebridge Investments L.P. grew its holdings in shares of Inogen by 1.6% during the second quarter. Pinebridge Investments L.P. now owns 2,143 shares of the medical technology company’s stock worth $204,000 after purchasing an additional 33 shares during the last quarter. Suntrust Banks Inc. grew its holdings in shares of Inogen by 2.0% during the second quarter. Suntrust Banks Inc. now owns 3,343 shares of the medical technology company’s stock worth $318,000 after purchasing an additional 67 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Inogen by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 86 shares during the last quarter. Caxton Associates LP grew its holdings in shares of Inogen by 4.8% during the second quarter. Caxton Associates LP now owns 4,362 shares of the medical technology company’s stock worth $416,000 after purchasing an additional 200 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Inogen by 17.8% during the second quarter. Victory Capital Management Inc. now owns 2,036 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 307 shares during the last quarter.
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Inogen Company Profile
Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.
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