Inogen (NASDAQ:INGN) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Inogen (NASDAQ:INGN) from a hold rating to a sell rating in a report issued on Monday.

A number of other equities analysts have also commented on the stock. Needham & Company LLC reissued a hold rating on shares of Inogen in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their target price on shares of Inogen from $6.00 to $7.00 and gave the stock a hold rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $7.00.

Inogen Trading Up 5.3 %

Shares of NASDAQ:INGN opened at $11.67 on Monday. The stock has a market capitalization of $275.14 million, a PE ratio of -2.81 and a beta of 1.07. Inogen has a 1 year low of $4.13 and a 1 year high of $11.93. The firm has a fifty day moving average price of $8.56 and a 200 day moving average price of $7.90.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.31. Inogen had a negative return on equity of 42.87% and a negative net margin of 30.07%. The company had revenue of $88.77 million during the quarter, compared to the consensus estimate of $82.50 million. During the same quarter in the prior year, the company posted ($0.42) EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Inogen will post -2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inogen

Several hedge funds and other institutional investors have recently modified their holdings of INGN. Inspire Advisors LLC bought a new stake in Inogen in the 1st quarter valued at $255,000. Federated Hermes Inc. lifted its stake in shares of Inogen by 347.2% in the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock valued at $1,458,000 after buying an additional 206,125 shares during the period. Strs Ohio grew its position in Inogen by 9.0% during the fourth quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock worth $226,000 after buying an additional 3,400 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Inogen by 27.3% during the first quarter. Tocqueville Asset Management L.P. now owns 93,350 shares of the medical technology company’s stock valued at $753,000 after acquiring an additional 20,000 shares during the period. Finally, Jump Financial LLC raised its holdings in Inogen by 153.0% in the 4th quarter. Jump Financial LLC now owns 39,728 shares of the medical technology company’s stock valued at $218,000 after acquiring an additional 24,028 shares in the last quarter. Institutional investors and hedge funds 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.