Inogen (NASDAQ:INGN) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Inogen (NASDAQ:INGN) from a sell rating to a strong sell rating in a report released on Wednesday, BidAskClub reports.

Several other equities research analysts also recently commented on INGN. ValuEngine raised Inogen from a hold rating to a buy rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on Inogen from $47.50 to $60.00 and gave the company an underweight rating in a report on Friday, December 20th. Finally, Needham & Company LLC reissued a buy rating and issued a $90.00 price objective on shares of Inogen in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $80.00.

Shares of NASDAQ INGN traded up $0.61 during trading hours on Wednesday, hitting $51.70. The company had a trading volume of 9,541 shares, compared to its average volume of 353,076. The stock has a market capitalization of $1.11 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 3.70 and a beta of 1.63. The company has a quick ratio of 5.11, a current ratio of 5.79 and a debt-to-equity ratio of 0.01. Inogen has a 1-year low of $41.19 and a 1-year high of $155.75. The firm’s 50 day moving average is $68.51 and its 200-day moving average is $58.04.

Inogen (NASDAQ:INGN) last released its quarterly earnings data on Tuesday, November 5th. The medical technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.23 by $0.08. The company had revenue of $91.76 million during the quarter, compared to the consensus estimate of $91.65 million. Inogen had a return on equity of 9.89% and a net margin of 8.76%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. On average, sell-side analysts predict that Inogen will post 1.11 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Synovus Financial Corp acquired a new stake in Inogen during the 3rd quarter valued at $77,000. Steward Partners Investment Advisory LLC lifted its holdings in Inogen by 16.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,088 shares of the medical technology company’s stock valued at $100,000 after purchasing an additional 300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Inogen by 235.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,243 shares of the medical technology company’s stock valued at $283,000 after purchasing an additional 2,980 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Inogen during the second quarter worth $315,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Inogen by 65.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 5,460 shares of the medical technology company’s stock worth $262,000 after buying an additional 2,150 shares in the last quarter.

About Inogen

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. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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