Piper Jaffray Reiterates “$145.00” Price Target for Inogen (INGN)

Piper Jaffray set a $145.00 price objective on Inogen (NASDAQ:INGN) in a research note issued to investors on Saturday morning. The brokerage currently has a buy rating on the medical technology company’s stock.

INGN has been the topic of a number of other reports. Zacks Investment Research lowered Inogen from a buy rating to a hold rating in a research report on Wednesday, January 10th. BidaskClub upgraded Inogen from a sell rating to a hold rating in a research note on Wednesday, January 24th. ValuEngine upgraded Inogen from a hold rating to a buy rating in a research note on Friday, April 6th. Finally, Needham & Company LLC lifted their price target on Inogen from $125.00 to $150.00 and gave the stock a strong-buy rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $115.14.

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Shares of NASDAQ INGN opened at $139.43 on Friday. Inogen has a 1 year low of $74.90 and a 1 year high of $143.00. The stock has a market cap of $2,947.02, a PE ratio of 106.44, a price-to-earnings-growth ratio of 3.86 and a beta of 1.03.

Inogen (NASDAQ:INGN) last announced its earnings results on Tuesday, February 27th. The medical technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. Inogen had a return on equity of 13.47% and a net margin of 8.42%. The business had revenue of $63.79 million for the quarter, compared to analyst estimates of $62.01 million. research analysts predict that Inogen will post 1.6 EPS for the current year.

In other Inogen news, EVP Matt Scribner sold 2,500 shares of Inogen stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $127.95, for a total value of $319,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Heather D. Rider sold 5,222 shares of Inogen stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $131.13, for a total value of $684,760.86. Following the completion of the transaction, the director now owns 3,222 shares of the company’s stock, valued at $422,500.86. The disclosure for this sale can be found here. Insiders sold 112,218 shares of company stock valued at $13,570,316 over the last quarter. Insiders own 5.29% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Lenox Wealth Advisors Inc. acquired a new position in Inogen in the fourth quarter valued at approximately $100,000. Steward Partners Investment Advisory LLC boosted its stake in Inogen by 1,000.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the medical technology company’s stock valued at $130,000 after acquiring an additional 1,000 shares during the period. Simplex Trading LLC acquired a new position in Inogen in the fourth quarter valued at approximately $153,000. LS Investment Advisors LLC boosted its stake in Inogen by 138.6% in the fourth quarter. LS Investment Advisors LLC now owns 1,515 shares of the medical technology company’s stock valued at $180,000 after acquiring an additional 880 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Inogen in the fourth quarter valued at approximately $208,000. Institutional investors own 98.97% of the company’s stock.

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About Inogen

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

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