Fred Alger Management LLC Has $5.51 Million Holdings in Inogen, Inc. (NASDAQ:INGN)

Fred Alger Management LLC trimmed its stake in Inogen, Inc. (NASDAQ:INGN) by 15.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 600,995 shares of the medical technology company’s stock after selling 111,847 shares during the period. Fred Alger Management LLC owned 2.52% of Inogen worth $5,511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new position in shares of Inogen during the fourth quarter worth approximately $43,000. Meeder Asset Management Inc. acquired a new position in Inogen during the 4th quarter valued at $56,000. Integrated Quantitative Investments LLC bought a new stake in Inogen in the 4th quarter valued at $92,000. Intech Investment Management LLC acquired a new stake in Inogen in the 4th quarter worth $94,000. Finally, Ieq Capital LLC acquired a new stake in Inogen in the 4th quarter worth $94,000. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Inogen Stock Down 1.7 %

NASDAQ:INGN opened at $6.24 on Friday. The firm has a market capitalization of $167.77 million, a PE ratio of -2.77 and a beta of 1.63. Inogen, Inc. has a 12-month low of $5.75 and a 12-month high of $13.33. The firm has a 50-day moving average price of $7.17 and a 200 day moving average price of $8.91.

Inogen (NASDAQ:INGN) last posted its earnings results on Wednesday, May 7th. The medical technology company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.27. Inogen had a negative return on equity of 27.38% and a negative net margin of 15.89%. The business had revenue of $82.28 million during the quarter, compared to the consensus estimate of $79.57 million. On average, research analysts expect that Inogen, Inc. will post -1.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INGN shares. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a research report on Wednesday, April 9th. StockNews.com cut Inogen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their target price on Inogen from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday.

Inogen Profile

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.