JPMorgan Chase & Co. Lowers Stake in Inogen, Inc (INGN)

JPMorgan Chase & Co. cut its holdings in Inogen, Inc (NASDAQ:INGN) by 81.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,041 shares of the medical technology company’s stock after selling 152,450 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of Inogen worth $3,249,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in INGN. BlackRock Inc. increased its stake in shares of Inogen by 145,976.1% in the first quarter. BlackRock Inc. now owns 2,110,800 shares of the medical technology company’s stock valued at $163,711,000 after buying an additional 2,109,355 shares in the last quarter. Russell Investments Group Ltd. increased its position in Inogen by 166.2% in the second quarter. Russell Investments Group Ltd. now owns 196,886 shares of the medical technology company’s stock worth $18,786,000 after purchasing an additional 122,913 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Inogen in the first quarter worth about $9,139,000. Marshall Wace North America L.P. acquired a new stake in Inogen in the first quarter worth about $9,139,000. Finally, FMR LLC increased its position in Inogen by 56.2% in the first quarter. FMR LLC now owns 324,200 shares of the medical technology company’s stock worth $25,145,000 after purchasing an additional 116,600 shares during the period.

TRADEMARK VIOLATION NOTICE: This report was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/jpmorgan-chase-co-lowers-stake-in-inogen-inc-ingn.html.

Shares of Inogen, Inc (NASDAQ INGN) opened at 93.69 on Wednesday. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 81.33 and a beta of 0.99. Inogen, Inc has a 12 month low of $50.24 and a 12 month high of $105.35. The company has a 50-day moving average price of $98.11 and a 200-day moving average price of $90.60.

Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The firm had revenue of $64.10 million during the quarter, compared to the consensus estimate of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Equities analysts forecast that Inogen, Inc will post $1.21 EPS for the current fiscal year.

In other news, EVP Matt Scribner sold 2,500 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $103.23, for a total value of $258,075.00. Following the completion of the sale, the executive vice president now owns 6,964 shares of the company’s stock, valued at $718,893.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond Huggenberger sold 14,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $91.67, for a total value of $1,283,380.00. Following the completion of the sale, the director now directly owns 7,808 shares of the company’s stock, valued at approximately $715,759.36. The disclosure for this sale can be found here. Insiders sold 58,667 shares of company stock valued at $5,602,976 over the last quarter. Corporate insiders own 5.31% of the company’s stock.

A number of analysts recently commented on INGN shares. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Inogen in a research report on Friday, September 1st. BidaskClub lowered Inogen from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Piper Jaffray Companies reiterated a “hold” rating and issued a $90.00 price objective on shares of Inogen in a research report on Tuesday, September 12th. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co lifted their price objective on Inogen to $102.00 and gave the stock an “overweight” rating in a research report on Monday, June 26th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating

Several other large investors have also made changes to their positions in INGN. BlackRock Inc. increased its stake in shares of Inogen by 145,976.1% in the first quarter. BlackRock Inc. now owns 2,110,800 shares of the medical technology company’s stock valued at $163,711,000 after buying an additional 2,109,355 shares in the last quarter. Russell Investments Group Ltd. increased its position in Inogen by 166.2% in the second quarter. Russell Investments Group Ltd. now owns 196,886 shares of the medical technology company’s stock worth $18,786,000 after purchasing an additional 122,913 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Inogen in the first quarter worth about $9,139,000. Marshall Wace North America L.P. acquired a new stake in Inogen in the first quarter worth about $9,139,000. Finally, FMR LLC increased its position in Inogen by 56.2% in the first quarter. FMR LLC now owns 324,200 shares of the medical technology company’s stock worth $25,145,000 after purchasing an additional 116,600 shares during the period.

TRADEMARK VIOLATION NOTICE: This report was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/jpmorgan-chase-co-lowers-stake-in-inogen-inc-ingn.html.

Shares of Inogen, Inc (NASDAQ INGN) opened at 93.69 on Wednesday. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 81.33 and a beta of 0.99. Inogen, Inc has a 12 month low of $50.24 and a 12 month high of $105.35. The company has a 50-day moving average price of $98.11 and a 200-day moving average price of $90.60.

Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The firm had revenue of $64.10 million during the quarter, compared to the consensus estimate of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. Equities analysts forecast that Inogen, Inc will post $1.21 EPS for the current fiscal year.

In other news, EVP Matt Scribner sold 2,500 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $103.23, for a total value of $258,075.00. Following the completion of the sale, the executive vice president now owns 6,964 shares of the company’s stock, valued at $718,893.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond Huggenberger sold 14,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $91.67, for a total value of $1,283,380.00. Following the completion of the sale, the director now directly owns 7,808 shares of the company’s stock, valued at approximately $715,759.36. The disclosure for this sale can be found here. Insiders sold 58,667 shares of company stock valued at $5,602,976 over the last quarter. Corporate insiders own 5.31% of the company’s stock.

A number of analysts recently commented on INGN shares. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective on shares of Inogen in a research report on Friday, September 1st. BidaskClub lowered Inogen from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Piper Jaffray Companies reiterated a “hold” rating and issued a $90.00 price objective on shares of Inogen in a research report on Tuesday, September 12th. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co lifted their price objective on Inogen to $102.00 and gave the stock an “overweight” rating in a research report on Monday, June 26th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $90.80.

Inogen Company Profile

Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.

Institutional Ownership by Quarter for Inogen (NASDAQ:INGN)

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