TRUE Private Wealth Advisors Acquires Shares of 1,088 Inogen Inc (INGN)

TRUE Private Wealth Advisors acquired a new stake in shares of Inogen Inc (NASDAQ:INGN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,088 shares of the medical technology company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Inogen by 7.2% during the 2nd quarter. BlackRock Inc. now owns 2,591,083 shares of the medical technology company’s stock valued at $482,796,000 after buying an additional 173,035 shares in the last quarter. Fred Alger Management Inc. increased its stake in Inogen by 25.5% in the 2nd quarter. Fred Alger Management Inc. now owns 311,349 shares of the medical technology company’s stock worth $58,014,000 after purchasing an additional 63,308 shares during the period. Renaissance Technologies LLC increased its stake in Inogen by 19.9% in the 2nd quarter. Renaissance Technologies LLC now owns 309,814 shares of the medical technology company’s stock worth $57,728,000 after purchasing an additional 51,314 shares during the period. OppenheimerFunds Inc. increased its stake in Inogen by 40.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 286,147 shares of the medical technology company’s stock worth $53,318,000 after purchasing an additional 82,164 shares during the period. Finally, Northern Trust Corp increased its stake in Inogen by 3.9% in the 2nd quarter. Northern Trust Corp now owns 253,076 shares of the medical technology company’s stock worth $47,155,000 after purchasing an additional 9,425 shares during the period. 96.99% of the stock is currently owned by institutional investors.

A number of brokerages have commented on INGN. BidaskClub raised Inogen from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Thursday, September 27th. Piper Jaffray Companies lifted their price target on Inogen from $245.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 12th. Needham & Company LLC cut Inogen from a “strong-buy” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $296.00 in a research note on Monday, September 10th. Finally, Stifel Nicolaus set a $258.00 price target on Inogen and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $247.33.

In other news, Director Raymond Huggenberger sold 10,500 shares of Inogen stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $282.57, for a total value of $2,966,985.00. Following the sale, the director now directly owns 8,797 shares in the company, valued at approximately $2,485,768.29. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott Wilkinson sold 17,188 shares of Inogen stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $200.16, for a total value of $3,440,350.08. Following the completion of the sale, the insider now owns 41,664 shares in the company, valued at $8,339,466.24. The disclosure for this sale can be found here. Insiders sold a total of 95,141 shares of company stock worth $21,660,725 over the last ninety days. Insiders own 5.29% of the company’s stock.

Shares of Inogen stock opened at $195.38 on Friday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 149.15, a P/E/G ratio of 4.05 and a beta of 1.25. Inogen Inc has a one year low of $94.02 and a one year high of $287.79.

Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Tuesday, August 7th. The medical technology company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.21. The business had revenue of $97.24 million for the quarter, compared to analysts’ expectations of $81.61 million. Inogen had a return on equity of 16.51% and a net margin of 10.39%. As a group, equities analysts predict that Inogen Inc will post 2.07 earnings per share for the current fiscal year.

Inogen Company Profile

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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Institutional Ownership by Quarter for Inogen (NASDAQ:INGN)

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