Inogen (NASDAQ:INGN) Research Coverage Started at B. Riley

B. Riley assumed coverage on shares of Inogen (NASDAQ:INGN) in a research note issued to investors on Sunday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $14.00 target price on the medical technology company’s stock.

A number of other brokerages have also recently issued reports on INGN. Stifel Nicolaus lowered their target price on shares of Inogen from $10.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, May 8th. Needham & Company LLC raised shares of Inogen from a “hold” rating to a “moderate buy” rating and set a $12.00 price target on the stock in a report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of Inogen from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th.

Inogen Trading Down 1.8%

Inogen stock opened at $6.48 on Friday. Inogen has a 12 month low of $5.70 and a 12 month high of $13.33. The business’s 50 day simple moving average is $6.66 and its 200 day simple moving average is $8.30. The company has a market cap of $174.25 million, a price-to-earnings ratio of -5.63 and a beta of 1.64.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Wednesday, May 7th. The medical technology company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.27. Inogen had a negative return on equity of 14.76% and a negative net margin of 8.08%. The business had revenue of $82.28 million for the quarter, compared to the consensus estimate of $79.57 million. As a group, equities research analysts forecast that Inogen will post -1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGN. AlphaQuest LLC purchased a new position in Inogen in the fourth quarter worth $43,000. Meeder Asset Management Inc. bought a new position in shares of Inogen during the fourth quarter valued at about $56,000. Integrated Wealth Concepts LLC bought a new position in shares of Inogen during the first quarter valued at about $85,000. Algert Global LLC bought a new position in shares of Inogen during the first quarter valued at about $89,000. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Inogen during the fourth quarter valued at about $92,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

About Inogen

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.