First Trust Advisors LP decreased its stake in Inogen Inc. (NASDAQ:INGN) by 65.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,128 shares of the medical technology company’s stock after selling 7,900 shares during the period. First Trust Advisors LP’s holdings in Inogen were worth $207,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Capital Management LLC bought a new position in shares of Inogen during the second quarter valued at $60,117,000. JPMorgan Chase & Co. raised its position in shares of Inogen by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 444,075 shares of the medical technology company’s stock valued at $19,975,000 after buying an additional 20,525 shares during the period. Renaissance Technologies LLC raised its position in shares of Inogen by 4.7% in the first quarter. Renaissance Technologies LLC now owns 363,200 shares of the medical technology company’s stock valued at $16,337,000 after buying an additional 16,300 shares during the period. Rockefeller Financial Services Inc. raised its position in shares of Inogen by 2.0% in the second quarter. Rockefeller Financial Services Inc. now owns 295,558 shares of the medical technology company’s stock valued at $14,810,000 after buying an additional 5,759 shares during the period. Finally, Pembroke Management LTD raised its position in shares of Inogen by 19.6% in the second quarter. Pembroke Management LTD now owns 292,500 shares of the medical technology company’s stock valued at $14,657,000 after buying an additional 47,900 shares during the period.
Shares of Inogen Inc. (NASDAQ:INGN) traded up 1.56% during mid-day trading on Tuesday, reaching $57.25. 29,462 shares of the company traded hands. The firm’s 50 day moving average price is $59.13 and its 200-day moving average price is $52.30. Inogen Inc. has a 52-week low of $28.81 and a 52-week high of $61.87. The company has a market capitalization of $1.15 billion, a P/E ratio of 84.19 and a beta of 0.88.
Inogen (NASDAQ:INGN) last posted its quarterly earnings results on Thursday, August 4th. The medical technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The company earned $54.57 million during the quarter, compared to analysts’ expectations of $52.44 million. Inogen had a return on equity of 9.50% and a net margin of 7.86%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. Equities analysts predict that Inogen Inc. will post $0.63 earnings per share for the current fiscal year.
INGN has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Inogen from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Needham & Company LLC reissued a “strong-buy” rating and set a $64.00 price target (up previously from $58.00) on shares of Inogen in a research report on Sunday, August 7th. Stifel Nicolaus cut shares of Inogen from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Inogen from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $58.50.
In other Inogen news, CEO Raymond Huggenberger sold 20,747 shares of Inogen stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $57.48, for a total value of $1,192,537.56. Following the completion of the sale, the chief executive officer now owns 27,555 shares in the company, valued at approximately $1,583,861.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Byron Myers sold 13,000 shares of Inogen stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $55.00, for a total value of $715,000.00. Following the completion of the sale, the vice president now owns 35,185 shares of the company’s stock, valued at approximately $1,935,175. The disclosure for this sale can be found here. 5.18% of the stock is owned by company insiders.
Inogen, Inc is a medical technology company. The Company is engaged in developing, manufacturing and marketing 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 weighing approximately 4.8 or seven pounds.
Want to see what other hedge funds are holding INGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inogen Inc. (NASDAQ:INGN).
Receive News & Ratings for Inogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.