43,988 Shares in Inogen, Inc (NASDAQ:INGN) Acquired by Inspire Advisors LLC

Key Points

• Inspire Advisors LLC has made a new investment in Inogen, Inc, purchasing 43,988 shares valued at approximately $314,000.
• Shares of Inogen, Inc. are currently trading at $6.60, down 2.8%, with a market cap of $177.47 million.
• Recent earnings reports indicate that Inogen beat earnings expectations with a revenue of $82.28 million, surpassing analysts' predictions of $79.57 million.

Inspire Advisors LLC bought a new stake in Inogen, Inc (NASDAQ:INGN - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 43,988 shares of the medical technology company's stock, valued at approximately $314,000. Inspire Advisors LLC owned about 0.16% of Inogen as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in INGN. Meeder Asset Management Inc. purchased a new position in Inogen in the 4th quarter worth about $56,000. Integrated Quantitative Investments LLC purchased a new position in Inogen in the 4th quarter worth about $92,000. Wealth Enhancement Advisory Services LLC purchased a new position in Inogen in the 1st quarter worth about $99,000. CWM LLC increased its stake in Inogen by 71.7% in the 1st quarter. CWM LLC now owns 14,647 shares of the medical technology company's stock worth $104,000 after purchasing an additional 6,118 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Inogen by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 13,917 shares of the medical technology company's stock worth $128,000 after purchasing an additional 3,031 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Inogen from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. 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 research note on Thursday, May 22nd. Finally, B. Riley began coverage on Inogen in a research note on Monday, June 16th. They set a "buy" rating and a $14.00 target price on the stock.

Inogen Stock Performance

Shares of Inogen stock traded down $0.05 during trading on Friday, hitting $6.26. 315,579 shares of the stock traded hands, compared to its average volume of 277,209. The stock has a market cap of $168.25 million, a P/E ratio of -5.44 and a beta of 1.66. Inogen, Inc has a twelve month low of $5.70 and a twelve month high of $13.33. The company has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $7.80.

Inogen (NASDAQ:INGN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.27. The business had revenue of $82.28 million during the quarter, compared to analyst estimates of $79.57 million. Inogen had a negative return on equity of 14.76% and a negative net margin of 8.08%. On average, equities research analysts expect that Inogen, Inc will post -1.73 EPS for the current fiscal year.

Inogen Profile

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.