Spark Investment Management LLC acquired a new position in shares of Inogen Inc (NASDAQ:INGN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,400 shares of the medical technology company’s stock, valued at approximately $1,006,000.
Other large investors have also recently made changes to their positions in the company. Raymond James & Associates bought a new position in shares of Inogen during the 4th quarter worth approximately $244,000. Wells Fargo & Company MN raised its stake in shares of Inogen by 7.9% during the 1st quarter. Wells Fargo & Company MN now owns 297,745 shares of the medical technology company’s stock worth $36,575,000 after acquiring an additional 21,714 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Inogen by 2.3% during the 1st quarter. Rhumbline Advisers now owns 39,979 shares of the medical technology company’s stock worth $4,911,000 after acquiring an additional 891 shares in the last quarter. Comerica Bank raised its stake in shares of Inogen by 1.6% during the 1st quarter. Comerica Bank now owns 25,164 shares of the medical technology company’s stock worth $3,554,000 after acquiring an additional 392 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Inogen during the 1st quarter worth approximately $178,000. 97.06% of the stock is currently owned by institutional investors.
INGN has been the subject of several recent analyst reports. Piper Jaffray Companies boosted their price objective on shares of Inogen to $235.00 and gave the stock an “overweight” rating in a research note on Monday, July 9th. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “strong-buy” rating and set a $232.00 price objective for the company in a research note on Wednesday, July 11th. BidaskClub upgraded shares of Inogen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 7th. Needham & Company LLC boosted their price objective on shares of Inogen from $150.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 1st. Finally, KeyCorp initiated coverage on shares of Inogen in a research note on Wednesday, June 6th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $228.17.
Inogen (NASDAQ:INGN) last released its earnings results on Tuesday, August 7th. The medical technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.21. The company had revenue of $97.24 million for the quarter, compared to the consensus estimate of $81.61 million. Inogen had a net margin of 10.39% and a return on equity of 16.51%. equities analysts expect that Inogen Inc will post 2.06 earnings per share for the current year.
In other Inogen news, CFO Alison Bauerlein sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $180.69, for a total transaction of $903,450.00. Following the sale, the chief financial officer now owns 9,161 shares of the company’s stock, valued at approximately $1,655,301.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond Huggenberger sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $228.63, for a total transaction of $2,400,615.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,074 shares of company stock worth $26,680,901. 5.29% of the stock is owned by insiders.
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. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
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