Piper Jaffray Companies Increases Inogen (INGN) Price Target to $290.00

Inogen (NASDAQ:INGN) had its price target boosted by Piper Jaffray Companies from $245.00 to $290.00 in a research report report published on Wednesday, The Fly reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other research analysts also recently issued reports on INGN. Zacks Investment Research upgraded shares of Inogen from a hold rating to a buy rating and set a $276.00 target price for the company in a research report on Tuesday, August 28th. Needham & Company LLC restated a buy rating on shares of Inogen in a research report on Wednesday, June 13th. BidaskClub downgraded shares of Inogen from a strong-buy rating to a buy rating in a research report on Tuesday, July 31st. KeyCorp assumed coverage on shares of Inogen in a research report on Wednesday, June 6th. They set an equal weight rating for the company. Finally, Stifel Nicolaus set a $258.00 target price on shares of Inogen and gave the company a buy rating in a research report on Tuesday, August 21st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Inogen currently has an average rating of Buy and an average price target of $245.00.

NASDAQ INGN opened at $282.92 on Wednesday. The firm has a market cap of $5.87 billion, a P/E ratio of 215.97, a price-to-earnings-growth ratio of 5.44 and a beta of 1.24. Inogen has a 1 year low of $91.80 and a 1 year high of $287.79.

Inogen (NASDAQ:INGN) last posted its earnings results on Tuesday, August 7th. The medical technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.21. The company had revenue of $97.24 million during the quarter, compared to the consensus estimate of $81.61 million. Inogen had a net margin of 10.39% and a return on equity of 16.51%. equities analysts anticipate that Inogen will post 2.07 EPS for the current fiscal year.

In other Inogen news, Director Ray Benjamin M. Anderson sold 1,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $184.88, for a total value of $184,880.00. Following the completion of the transaction, the director now owns 1,989 shares in the company, valued at $367,726.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Byron Myers sold 24,953 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $227.13, for a total transaction of $5,667,574.89. Following the completion of the transaction, the executive vice president now owns 42,329 shares of the company’s stock, valued at approximately $9,614,185.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,710 shares of company stock valued at $21,855,102. Insiders own 5.29% of the company’s stock.

Several institutional investors have recently modified their holdings of INGN. WINTON GROUP Ltd raised its position in shares of Inogen by 382.8% during the 2nd quarter. WINTON GROUP Ltd now owns 67,012 shares of the medical technology company’s stock worth $12,486,000 after purchasing an additional 53,133 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Inogen by 4.6% during the 2nd quarter. California Public Employees Retirement System now owns 31,149 shares of the medical technology company’s stock worth $5,804,000 after purchasing an additional 1,376 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Inogen during the 2nd quarter worth about $877,000. Zacks Investment Management raised its position in shares of Inogen by 1.6% during the 2nd quarter. Zacks Investment Management now owns 17,033 shares of the medical technology company’s stock worth $3,174,000 after purchasing an additional 261 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in shares of Inogen during the 2nd quarter worth about $302,000. Institutional investors and hedge funds own 96.49% of the company’s stock.

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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