Arrowstreet Capital Limited Partnership Acquires 393,310 Shares of Inogen, Inc $INGN

Key Points

• Arrowstreet Capital increased its Inogen stake by 203.9% in the first quarter, acquiring 393,310 additional shares and bringing its holdings to 586,159 shares, or 2.16% of the company. Institutional investors collectively own 89.94% of Inogen.
• Inogen shares opened at $6.71, within a 52-week range of $5.34 to $9.13. The company’s latest quarterly loss of $0.30 per share missed estimates, although revenue of $85.11 million exceeded expectations.
• Executive Vice President Jennifer M. Yi Boyer sold 10,938 shares at an average price of $6.60, reducing her holdings by 68.46%; analysts’ views remain mixed, with the stock carrying a “Moderate Buy” consensus rating.

Arrowstreet Capital Limited Partnership raised its holdings in Inogen, Inc (NASDAQ:INGN - Free Report) by 203.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 586,159 shares of the medical technology company's stock after buying an additional 393,310 shares during the period. Arrowstreet Capital Limited Partnership owned 2.16% of Inogen worth $3,622,000 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 INGN. Quarry LP bought a new position in shares of Inogen in the 4th quarter valued at about $27,000. Torren Management LLC bought a new stake in Inogen during the fourth quarter worth about $51,000. Prelude Capital Management LLC acquired a new position in Inogen during the third quarter valued at approximately $82,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Inogen during the third quarter valued at approximately $90,000. Finally, Integrated Wealth Concepts LLC bought a new position in Inogen in the first quarter valued at approximately $85,000. 89.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Inogen

In other news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total transaction of $72,190.80. Following the transaction, the executive vice president owned 5,039 shares in the company, valued at approximately $33,257.40. This trade represents a 68.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company's stock.

Inogen Stock Performance

Shares of INGN stock opened at $6.71 on Tuesday. The company has a market capitalization of $181.71 million, a price-to-earnings ratio of -7.37 and a beta of 1.55. The company has a 50-day simple moving average of $6.47 and a 200 day simple moving average of $6.38. Inogen, Inc has a 52 week low of $5.34 and a 52 week high of $9.13.

Inogen (NASDAQ:INGN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The company had revenue of $85.11 million during the quarter, compared to the consensus estimate of $82.35 million. Inogen had a negative net margin of 7.08% and a negative return on equity of 12.90%. Sell-side analysts forecast that Inogen, Inc will post -0.77 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on INGN shares. Freedom Capital raised Inogen to a "strong-buy" rating in a research report on Tuesday, April 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inogen in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy".

Inogen Profile

Inogen, Inc NASDAQ: INGN is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company's core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen's offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen's flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.