Inogen Inc (NASDAQ:INGN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $194.23 and last traded at $189.73, with a volume of 1988 shares. The stock had previously closed at $193.20.
Several equities analysts recently issued reports on the company. KeyCorp assumed coverage on Inogen in a report on Wednesday, June 6th. They set an “equal weight” rating for the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Inogen in a report on Wednesday, June 13th. ValuEngine raised Inogen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Inogen from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, May 1st. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $170.00 price objective (up from $150.00) on shares of Inogen in a report on Tuesday, May 1st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $178.00.
The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 142.03, a price-to-earnings-growth ratio of 4.74 and a beta of 1.10.
In other Inogen news, CFO Alison Bauerlein sold 5,000 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $180.69, for a total transaction of $903,450.00. Following the completion of the transaction, the chief financial officer now owns 9,161 shares of the company’s stock, valued at $1,655,301.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Byron Myers sold 8,056 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $190.58, for a total value of $1,535,312.48. Following the transaction, the executive vice president now directly owns 45,331 shares of the company’s stock, valued at approximately $8,639,181.98. The disclosure for this sale can be found here. Insiders have sold 58,589 shares of company stock valued at $10,581,530 in the last three months. 5.29% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Inogen by 4.8% during the first quarter. BlackRock Inc. now owns 2,418,048 shares of the medical technology company’s stock worth $297,032,000 after buying an additional 111,514 shares in the last quarter. Brown Capital Management LLC grew its position in shares of Inogen by 1.8% in the fourth quarter. Brown Capital Management LLC now owns 2,260,706 shares of the medical technology company’s stock valued at $269,205,000 after purchasing an additional 40,994 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of Inogen in the first quarter valued at $36,612,000. Wells Fargo & Company MN grew its position in shares of Inogen by 7.9% in the first quarter. Wells Fargo & Company MN now owns 297,745 shares of the medical technology company’s stock valued at $36,575,000 after purchasing an additional 21,714 shares during the period. Finally, Fred Alger Management Inc. grew its position in shares of Inogen by 7.9% in the fourth quarter. Fred Alger Management Inc. now owns 248,232 shares of the medical technology company’s stock valued at $29,559,000 after purchasing an additional 18,269 shares during the period. 97.86% of the stock is owned by institutional investors.
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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