Dimensional Fund Advisors LP Reduces Position in Inogen, Inc $INGN

Key Points

• Dimensional Fund Advisors cut its Inogen position by 28.3% in the first quarter, selling 201,558 shares and retaining 509,822 shares worth approximately $3.15 million. Institutional investors collectively own 89.94% of the company.
• Inogen reported a quarterly loss of $0.14 per share, narrowly beating estimates, while revenue of $95.08 million was slightly below forecasts. Analysts expect a full-year loss of approximately $0.77 per share.
• The stock opened at $5.81, near its 12-month low of $5.34, and has a “Moderate Buy” consensus despite mixed analyst coverage, including a reiterated “sell” rating from Weiss Ratings.

Dimensional Fund Advisors LP decreased its holdings in Inogen, Inc (NASDAQ:INGN - Free Report) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 509,822 shares of the medical technology company's stock after selling 201,558 shares during the period. Dimensional Fund Advisors LP owned approximately 1.87% of Inogen worth $3,151,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Armistice Capital LLC increased its holdings in Inogen by 46.3% in the 4th quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company's stock valued at $8,494,000 after purchasing an additional 400,000 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Inogen by 38.8% during the second quarter. Tidal Investments LLC now owns 26,288 shares of the medical technology company's stock worth $185,000 after purchasing an additional 7,348 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Inogen by 292.9% during the second quarter. Bank of America Corp DE now owns 171,526 shares of the medical technology company's stock worth $1,206,000 after purchasing an additional 127,869 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Inogen by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company's stock worth $6,194,000 after buying an additional 6,573 shares during the period. Finally, Kent Lake PR LLC boosted its position in shares of Inogen by 5.7% in the second quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company's stock worth $7,461,000 after buying an additional 57,700 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Inogen in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Inogen Trading Down 1.5%

INGN opened at $5.81 on Thursday. Inogen, Inc has a twelve month low of $5.34 and a twelve month high of $9.13. The firm has a market cap of $154.20 million, a price-to-earnings ratio of -6.46 and a beta of 1.55. The company has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $6.37.

Inogen (NASDAQ:INGN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical technology company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. The firm had revenue of $95.08 million for the quarter, compared to analyst estimates of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 13.17%. On average, analysts forecast that Inogen, Inc will post -0.77 earnings per share for the current fiscal year.

Insider Activity at Inogen

In related news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total value of $72,190.80. Following the transaction, the executive vice president owned 5,039 shares in the company, valued at approximately $33,257.40. The trade was a 68.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.50% of the company's stock.

About Inogen

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.

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