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Inogen, Inc. (NASDAQ:INGN) Given Average Recommendation of “Hold” by Brokerages

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Shares of Inogen, Inc. (NASDAQ:INGNGet Rating) have been assigned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $41.00.

A number of research firms have issued reports on INGN. StockNews.com downgraded Inogen from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Stifel Nicolaus cut their target price on Inogen from $40.00 to $30.00 in a research note on Monday, May 9th.

Hedge Funds Weigh In On Inogen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arboretum Ventures Inc. bought a new stake in shares of Inogen in the 4th quarter worth approximately $11,220,000. Federated Hermes Inc. raised its holdings in Inogen by 1,774.4% during the 1st quarter. Federated Hermes Inc. now owns 234,502 shares of the medical technology company’s stock valued at $7,603,000 after acquiring an additional 221,991 shares during the period. Invenomic Capital Management LP bought a new stake in Inogen during the 4th quarter valued at $5,624,000. Meros Investment Management LP bought a new stake in Inogen during the 4th quarter valued at $5,090,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Inogen by 35.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 514,425 shares of the medical technology company’s stock valued at $17,489,000 after acquiring an additional 135,799 shares during the period. Hedge funds and other institutional investors own 96.01% of the company’s stock.

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INGN stock opened at $28.78 on Monday. The company has a market capitalization of $657.22 million, a P/E ratio of -32.70 and a beta of 0.98. Inogen has a 52-week low of $22.51 and a 52-week high of $82.35. The business has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $28.84.

Inogen (NASDAQ:INGNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The medical technology company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. The business had revenue of $80.39 million during the quarter, compared to the consensus estimate of $76.56 million. Inogen had a negative return on equity of 3.83% and a negative net margin of 5.64%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, sell-side analysts forecast that Inogen will post -1.61 earnings per share for the current fiscal year.

About Inogen

(Get Rating)

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.

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