Inogen (NASDAQ:INGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $135.00 price target on the medical technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 8.47% from the stock’s current price.
According to Zacks, “Over the last year Inogen has outperformed the broader industry in terms of price. The company expects direct-to-consumer sales to be its fastest growing channel, followed by domestic business-to-business sales in the coming quarters, with solid focus in Europe. The company is also upbeat about its full-year 2017 revenue guidance. Solid domestic and international business-to-business sales has been boosting Inogen. The company took a series of strategic initiatives to strengthen its product offerings and market position. On the flip side, declining rental revenues raise concern. Moreover, since the company generates a significant portion of its revenues from the international market, volatile foreign exchange rate will continue to raise concern. Low POC adoption, intensifying competition, reimbursement cuts and foreign exchange headwinds are other major concerns. Reimbursement cuts and foreign exchange headwinds are other major concerns.”
Several other equities analysts have also recently weighed in on INGN. Needham & Company LLC boosted their price objective on Inogen from $108.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 8th. Leerink Swann reissued an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of Inogen in a research report on Wednesday, November 8th. Finally, BidaskClub cut Inogen from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $103.71.
Inogen (INGN) traded up $3.59 on Monday, hitting $124.46. The stock had a trading volume of 151,700 shares, compared to its average volume of 132,788. The company has a market cap of $2,600.00, a P/E ratio of 87.03, a PEG ratio of 4.05 and a beta of 1.02. Inogen has a 52 week low of $67.34 and a 52 week high of $130.05.
In related news, insider Scott Wilkinson sold 30,651 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $115.75, for a total transaction of $3,547,853.25. Following the completion of the transaction, the insider now owns 38,107 shares of the company’s stock, valued at approximately $4,410,885.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Benjamin M. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $119.06, for a total value of $119,060.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $119,060. The disclosure for this sale can be found here. Insiders have sold a total of 140,236 shares of company stock valued at $16,438,170 in the last three months. 5.31% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its holdings in Inogen by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock valued at $143,000 after acquiring an additional 86 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Inogen by 7.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 7,400 shares of the medical technology company’s stock valued at $881,000 after acquiring an additional 500 shares in the last quarter. Meadow Creek Investment Management LLC raised its holdings in Inogen by 26.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 2,576 shares of the medical technology company’s stock valued at $307,000 after acquiring an additional 532 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in Inogen by 1.3% in the 4th quarter. Congress Asset Management Co. MA now owns 44,579 shares of the medical technology company’s stock valued at $5,308,000 after acquiring an additional 581 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Inogen by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,316 shares of the medical technology company’s stock valued at $1,271,000 after acquiring an additional 712 shares in the last quarter.
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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.
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