Inogen (NASDAQ:INGN) Shares Gap Down to $23.28

Inogen, Inc. (NASDAQ:INGNGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $23.28, but opened at $22.51. Inogen shares last traded at $22.94, with a volume of 617 shares trading hands.

Analysts Set New Price Targets

INGN has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Inogen in a research report on Wednesday, October 12th. They set a “hold” rating for the company. William Blair cut shares of Inogen from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Needham & Company LLC lowered their price target on shares of Inogen from $45.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, November 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Inogen from $32.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.33.

Inogen Stock Down 2.7 %

The firm has a market capitalization of $504.26 million, a PE ratio of -10.00 and a beta of 0.93. The firm’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $24.33.

Inogen (NASDAQ:INGNGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The medical technology company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.23. Inogen had a negative net margin of 13.69% and a negative return on equity of 11.02%. The firm had revenue of $105.39 million during the quarter, compared to analysts’ expectations of $97.57 million. As a group, analysts predict that Inogen, Inc. will post -1.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of Inogen by 0.8% during the second quarter. Legal & General Group Plc now owns 57,104 shares of the medical technology company’s stock valued at $1,380,000 after purchasing an additional 434 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Inogen by 17.2% during the second quarter. Mutual of America Capital Management LLC now owns 3,452 shares of the medical technology company’s stock valued at $83,000 after purchasing an additional 506 shares during the last quarter. Captrust Financial Advisors grew its position in Inogen by 124.7% during the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock valued at $32,000 after buying an additional 551 shares during the period. US Bancorp DE grew its position in Inogen by 273.0% during the first quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock valued at $28,000 after buying an additional 647 shares during the period. Finally, Credit Suisse AG grew its position in Inogen by 4.4% during the third quarter. Credit Suisse AG now owns 16,727 shares of the medical technology company’s stock valued at $406,000 after buying an additional 705 shares during the period. 95.93% of the stock is owned by hedge funds and other institutional investors.

About Inogen

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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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