BidaskClub Downgrades Inogen (NASDAQ:INGN) to Strong Sell

BidaskClub lowered shares of Inogen (NASDAQ:INGN) from a sell rating to a strong sell rating in a report published on Wednesday morning, BidAskClub reports.

Other analysts have also issued reports about the company. Needham & Company LLC reissued a buy rating and set a $90.00 price target on shares of Inogen in a research note on Friday, November 22nd. ValuEngine raised Inogen from a hold rating to a buy rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on Inogen from $47.50 to $60.00 and gave the company an underweight rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $80.00.

Shares of INGN stock traded up $0.61 during mid-day trading on Wednesday, reaching $51.70. 9,541 shares of the stock traded hands, compared to its average volume of 353,076. The stock’s fifty day simple moving average is $68.51 and its two-hundred day simple moving average is $58.04. Inogen has a 1-year low of $41.19 and a 1-year high of $155.75. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 3.70 and a beta of 1.63. The company has a quick ratio of 5.11, a current ratio of 5.79 and a debt-to-equity ratio of 0.01.

Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Tuesday, November 5th. The medical technology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Inogen had a return on equity of 9.89% and a net margin of 8.76%. The firm had revenue of $91.76 million for the quarter, compared to analyst estimates of $91.65 million. During the same period last year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Inogen will post 1.11 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of INGN. Texas Permanent School Fund lifted its stake in Inogen by 1.5% in the third quarter. Texas Permanent School Fund now owns 12,391 shares of the medical technology company’s stock valued at $594,000 after buying an additional 187 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Inogen by 16.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 2,088 shares of the medical technology company’s stock valued at $100,000 after buying an additional 300 shares during the period. California State Teachers Retirement System lifted its stake in Inogen by 1.4% in the third quarter. California State Teachers Retirement System now owns 28,534 shares of the medical technology company’s stock valued at $1,367,000 after buying an additional 403 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Inogen by 0.6% in the second quarter. UBS Asset Management Americas Inc. now owns 91,414 shares of the medical technology company’s stock valued at $6,103,000 after buying an additional 559 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Inogen by 5.9% in the second quarter. Prudential Financial Inc. now owns 12,157 shares of the medical technology company’s stock valued at $812,000 after buying an additional 680 shares during the period.

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. 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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