Connor Clark & Lunn Investment Management Ltd. Increases Stake in Inogen, Inc $INGN

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Inogen, Inc by 13.9% in the first quarter, now owning 283,465 shares worth approximately $2.02 million.
• Inogen reported a loss of ($0.15) earnings per share for the last quarter, surpassing analyst expectations of ($0.22), with revenue of $92.28 million compared to estimates of $90.40 million.
• Analysts have varying ratings for Inogen, with Needham & Company upgrading it to a "moderate buy" and a target price of $12.00, while Stifel Nicolaus set a lower target price of $7.00.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Inogen, Inc (NASDAQ:INGN - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 283,465 shares of the medical technology company's stock after purchasing an additional 34,643 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.05% of Inogen worth $2,021,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of INGN. Royce & Associates LP grew its stake in Inogen by 42.8% in the 1st quarter. Royce & Associates LP now owns 444,457 shares of the medical technology company's stock valued at $3,169,000 after acquiring an additional 133,258 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Inogen by 25.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 607,837 shares of the medical technology company's stock worth $5,574,000 after buying an additional 123,208 shares in the last quarter. Monaco Asset Management SAM boosted its holdings in Inogen by 119.1% in the first quarter. Monaco Asset Management SAM now owns 167,594 shares of the medical technology company's stock valued at $1,195,000 after purchasing an additional 91,094 shares in the last quarter. Millennium Management LLC lifted its stake in Inogen by 162.5% in the fourth quarter. Millennium Management LLC now owns 143,653 shares of the medical technology company's stock valued at $1,317,000 after buying an additional 88,924 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Inogen by 17.9% during the fourth quarter. Renaissance Technologies LLC now owns 492,900 shares of the medical technology company's stock worth $4,520,000 after purchasing an additional 75,000 shares during the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

Inogen Stock Performance

INGN traded down $0.03 on Tuesday, hitting $7.52. 18,083 shares of the company were exchanged, compared to its average volume of 280,268. Inogen, Inc has a 12 month low of $5.70 and a 12 month high of $13.33. The stock's fifty day moving average is $6.82 and its 200-day moving average is $7.37. The company has a market cap of $203.34 million, a PE ratio of -7.09 and a beta of 1.72.

Inogen (NASDAQ:INGN - Get Free Report) last released its earnings results on Thursday, August 7th. The medical technology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. The firm had revenue of $92.28 million during the quarter, compared to analysts' expectations of $90.40 million. Inogen had a negative return on equity of 13.77% and a negative net margin of 7.58%. Inogen has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Inogen, Inc will post -1.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on INGN. Needham & Company LLC raised Inogen from a "hold" rating to a "moderate buy" rating and set a $12.00 target price on the stock in a report on Thursday, May 22nd. Stifel Nicolaus reduced their price objective on Inogen from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Finally, B. Riley assumed coverage on Inogen in a research report on Monday, June 16th. They set a "buy" rating and a $14.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.00.

About Inogen

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.