Inogen Inc (NASDAQ:INGN) – Equities research analysts at Piper Jaffray Companies raised their Q2 2019 earnings estimates for Inogen in a research report issued on Wednesday, November 7th. Piper Jaffray Companies analyst J. Mckim now forecasts that the medical technology company will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.65. Piper Jaffray Companies currently has a “Overweight” rating and a $290.00 price target on the stock. Piper Jaffray Companies also issued estimates for Inogen’s Q3 2019 earnings at $0.65 EPS and FY2019 earnings at $2.13 EPS.
A number of other brokerages have also recently weighed in on INGN. ValuEngine cut shares of Inogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Needham & Company LLC cut shares of Inogen from a “strong-buy” rating to a “buy” rating and increased their price target for the stock from $254.00 to $296.00 in a research note on Monday, September 10th. BidaskClub cut shares of Inogen from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research cut shares of Inogen from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Stifel Nicolaus set a $258.00 target price on shares of Inogen and gave the stock a “buy” rating in a research note on Tuesday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $244.67.
Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.21. The firm had revenue of $95.29 million during the quarter, compared to analysts’ expectations of $90.94 million. Inogen had a net margin of 12.28% and a return on equity of 18.91%. Inogen’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS.
Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in shares of Inogen by 162.5% in the 3rd quarter. Advisory Services Network LLC now owns 525 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 325 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Inogen in the 3rd quarter valued at about $128,000. First Quadrant L P CA purchased a new position in shares of Inogen in the 3rd quarter valued at about $134,000. Catalyst Capital Advisors LLC purchased a new position in shares of Inogen in the 2nd quarter valued at about $112,000. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Inogen by 1,090.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 655 shares of the medical technology company’s stock valued at $157,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
In other news, Director Heath Lukatch sold 500 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $193.97, for a total value of $96,985.00. Following the completion of the sale, the director now owns 1,489 shares in the company, valued at approximately $288,821.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond Huggenberger sold 10,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $228.63, for a total transaction of $2,400,615.00. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $11,098,610 in the last 90 days. Company insiders own 5.29% of the company’s stock.
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. 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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