Inogen (NASDAQ:INGN) Rating Lowered to Sell at StockNews.com

Inogen (NASDAQ:INGN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

INGN has been the subject of a number of other reports. Stifel Nicolaus increased their price target on Inogen from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Inogen presently has a consensus rating of “Hold” and an average target price of $7.00.

Inogen Stock Performance

Shares of INGN traded down $0.36 on Monday, reaching $8.18. The stock had a trading volume of 162,297 shares, compared to its average volume of 391,441. Inogen has a 12-month low of $4.13 and a 12-month high of $10.64. The company has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $7.84. The firm has a market capitalization of $192.88 million, a price-to-earnings ratio of -1.97 and a beta of 1.07.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.14. The company had revenue of $78.03 million during the quarter, compared to analysts’ expectations of $73.67 million. Inogen had a negative return on equity of 42.87% and a negative net margin of 30.07%. Inogen’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.63) earnings per share. On average, analysts expect that Inogen will post -2.2 EPS for the current fiscal year.

Insider Activity at Inogen

In other Inogen news, EVP Jason Somer sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $8.56, for a total transaction of $85,600.00. Following the transaction, the executive vice president now directly owns 4,452 shares in the company, valued at $38,109.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inogen

Several hedge funds have recently made changes to their positions in INGN. SG Americas Securities LLC increased its holdings in Inogen by 27.8% in the fourth 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 in the last quarter. Carnegie Capital Asset Management LLC bought a new stake in shares of Inogen in the 4th quarter worth about $96,000. Strs Ohio grew its position in shares of Inogen by 9.0% during the 4th quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock valued at $226,000 after buying an additional 3,400 shares during the last quarter. Federated Hermes Inc. boosted its stake in Inogen by 347.2% during the 4th quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock valued at $1,458,000 after purchasing an additional 206,125 shares during the period. Finally, Jump Financial LLC boosted its stake in Inogen by 153.0% during the 4th quarter. Jump Financial LLC now owns 39,728 shares of the medical technology company’s stock valued at $218,000 after purchasing an additional 24,028 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

About Inogen

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.