Inogen (NASDAQ:INGN) Cut to Hold at Needham & Company LLC

Needham & Company LLC lowered shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a report published on Wednesday, Briefing.com Automated Import reports.

Several other equities analysts have also recently weighed in on the stock. BidaskClub raised shares of Inogen from a strong sell rating to a sell rating in a research report on Saturday, July 27th. Stifel Nicolaus dropped their price target on shares of Inogen from $160.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut shares of Inogen from a neutral rating to an underweight rating and set a $72.00 price target on the stock. in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Inogen has an average rating of Hold and an average price target of $82.17.

NASDAQ INGN traded down $1.72 during trading hours on Wednesday, hitting $44.94. The company’s stock had a trading volume of 677,005 shares, compared to its average volume of 558,134. Inogen has a 52 week low of $41.19 and a 52 week high of $287.79. The stock has a market capitalization of $928.04 million, a P/E ratio of 19.54, a PEG ratio of 1.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.35 and a quick ratio of 6.70. The company’s 50-day moving average price is $61.84.

Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Wednesday, August 7th. The medical technology company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.05). Inogen had a net margin of 11.24% and a return on equity of 13.34%. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $106.88 million. During the same period in the previous year, the business posted $0.65 EPS. Inogen’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that Inogen will post 1.63 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund increased its stake in shares of Inogen by 1.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,029 shares of the medical technology company’s stock worth $670,000 after purchasing an additional 132 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Inogen by 1.4% during the 1st quarter. Arizona State Retirement System now owns 12,845 shares of the medical technology company’s stock worth $1,225,000 after purchasing an additional 178 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Inogen by 71.4% during the 2nd quarter. Advisor Group Inc. now owns 461 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 192 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Inogen by 8.5% during the 4th quarter. Stifel Financial Corp now owns 2,867 shares of the medical technology company’s stock worth $355,000 after purchasing an additional 224 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Inogen during the 1st quarter worth approximately $25,000. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

Inogen Company Profile

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. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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Analyst Recommendations for Inogen (NASDAQ:INGN)

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