Inogen Inc (NASDAQ:INGN) – Equities researchers at KeyCorp dropped their FY2019 EPS estimates for shares of Inogen in a research note issued on Wednesday, November 7th. KeyCorp analyst M. Mishan now forecasts that the medical technology company will post earnings per share of $2.17 for the year, down from their prior estimate of $2.27. KeyCorp also issued estimates for Inogen’s FY2020 earnings at $2.60 EPS.
Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, November 6th. The medical technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.21. The company had revenue of $95.29 million for the quarter, compared to the consensus estimate of $90.94 million. Inogen had a return on equity of 18.91% and a net margin of 12.28%. Inogen’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share.
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Inogen from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target (down previously from $296.00) on shares of Inogen in a research report on Wednesday. BidaskClub downgraded Inogen from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded Inogen from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Thursday, September 27th. Finally, Piper Jaffray Companies increased their price target on Inogen from $245.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $244.67.
Shares of INGN stock opened at $148.51 on Thursday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 113.37, a price-to-earnings-growth ratio of 3.06 and a beta of 1.56. Inogen has a 12-month low of $111.49 and a 12-month high of $287.79.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its position in shares of Inogen by 162.5% in the third quarter. Advisory Services Network LLC now owns 525 shares of the medical technology company’s stock valued at $128,000 after acquiring an additional 325 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Inogen in the third quarter valued at approximately $128,000. First Quadrant L P CA acquired a new stake in shares of Inogen in the third quarter valued at approximately $134,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Inogen in the second quarter valued at approximately $112,000. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of Inogen by 1,090.9% in the third 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 during the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.
In other news, Director Raymond Huggenberger sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $282.57, for a total value of $2,966,985.00. Following the transaction, the director now owns 8,797 shares in the company, valued at $2,485,768.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heath Lukatch sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $261.54, for a total value of $130,770.00. Following the completion of the transaction, the director now owns 4,239 shares in the company, valued at approximately $1,108,668.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,000 shares of company stock worth $11,098,610. 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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