Inogen’s (INGN) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Inogen (NASDAQ:INGN) in a report issued on Wednesday, Benzinga reports.

Several other brokerages have also commented on INGN. Stifel Nicolaus boosted their target price on shares of Inogen from $6.00 to $7.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. StockNews.com downgraded shares of Inogen from a hold rating to a sell rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $7.00.

Inogen Stock Performance

Inogen stock traded up $0.65 during mid-day trading on Wednesday, reaching $12.32. 433,958 shares of the company were exchanged, compared to its average volume of 397,752. The firm’s 50-day simple moving average is $8.71 and its two-hundred day simple moving average is $7.98. Inogen has a twelve month low of $4.13 and a twelve month high of $12.39. The firm has a market cap of $290.47 million, a PE ratio of -2.97 and a beta of 1.07.

Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.31. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The business had revenue of $88.77 million for the quarter, compared to analyst estimates of $82.50 million. During the same period in the previous year, the business posted ($0.42) earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Inogen will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INGN. Tower Research Capital LLC TRC grew its stake in Inogen by 84.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 2,419 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Inogen during the 2nd quarter worth approximately $30,000. PNC Financial Services Group Inc. raised its position in shares of Inogen by 2,918.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 7,646 shares during the last quarter. CWM LLC lifted its stake in Inogen by 2,185.9% in the 2nd quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock valued at $54,000 after buying an additional 6,339 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Inogen by 27.8% during the 4th quarter. SG Americas Securities LLC now owns 12,782 shares of the medical technology company’s stock valued at $70,000 after buying an additional 2,782 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Inogen Company Profile

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to 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.