Zacks Investment Research upgraded shares of Inogen (NASDAQ:INGN) from a hold rating to a buy rating in a report released on Monday, February 19th. The brokerage currently has $135.00 price objective on the medical technology company’s stock.
According to Zacks, “Over the last year Inogen has outperformed the broader industry in terms of price. The company expects direct-to-consumer sales to be its fastest growing channel, followed by domestic business-to-business sales in the coming quarters, with solid focus in Europe. The company is also upbeat about its full-year 2017 revenue guidance. Solid domestic and international business-to-business sales has been boosting Inogen. The company took a series of strategic initiatives to strengthen its product offerings and market position. On the flip side, declining rental revenues raise concern. Moreover, since the company generates a significant portion of its revenues from the international market, volatile foreign exchange rate will continue to raise concern. Low POC adoption, intensifying competition, reimbursement cuts and foreign exchange headwinds are other major concerns. Reimbursement cuts and foreign exchange headwinds are other major concerns.”
Several other equities analysts have also commented on the company. BidaskClub lowered Inogen from a hold rating to a sell rating in a report on Saturday, January 6th. Leerink Swann reaffirmed an outperform rating and set a $120.00 price objective (up previously from $115.00) on shares of Inogen in a report on Wednesday, November 8th. Finally, Needham & Company LLC raised their price objective on Inogen from $108.00 to $125.00 and gave the stock a strong-buy rating in a report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating, four have assigned 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 $107.29.
In related news, Director Ray Benjamin M. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $119.06, for a total value of $119,060.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $119,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $120.34, for a total transaction of $300,850.00. Following the completion of the sale, the executive vice president now owns 7,297 shares of the company’s stock, valued at approximately $878,120.98. The disclosure for this sale can be found here. Insiders have sold 173,369 shares of company stock valued at $20,697,980 in the last quarter. Insiders own 5.31% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Lenox Wealth Advisors Inc. acquired a new stake in Inogen in the fourth quarter valued at about $100,000. Steward Partners Investment Advisory LLC lifted its position in Inogen by 1,000.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the medical technology company’s stock valued at $130,000 after purchasing an additional 1,000 shares during the period. Ameritas Investment Partners Inc. lifted its position in Inogen by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 86 shares during the period. Simplex Trading LLC acquired a new stake in Inogen in the fourth quarter valued at about $153,000. Finally, LS Investment Advisors LLC lifted its position in Inogen by 138.6% in the fourth quarter. LS Investment Advisors LLC now owns 1,515 shares of the medical technology company’s stock valued at $180,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 99.46% of the company’s stock.
Inogen Company Profile
Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.
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