Millennium Management LLC Acquires 88,924 Shares of Inogen, Inc. (NASDAQ:INGN)

Millennium Management LLC grew its holdings in shares of Inogen, Inc. (NASDAQ:INGN - Free Report) by 162.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,653 shares of the medical technology company's stock after acquiring an additional 88,924 shares during the quarter. Millennium Management LLC owned 0.60% of Inogen worth $1,317,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Inogen by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,710 shares of the medical technology company's stock worth $245,000 after acquiring an additional 1,318 shares in the last quarter. Invesco Ltd. increased its stake in shares of Inogen by 2.0% in the fourth quarter. Invesco Ltd. now owns 78,142 shares of the medical technology company's stock worth $717,000 after buying an additional 1,545 shares during the period. Wells Fargo & Company MN increased its stake in shares of Inogen by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,917 shares of the medical technology company's stock worth $128,000 after buying an additional 3,031 shares during the period. Bank of America Corp DE increased its stake in shares of Inogen by 2.7% in the fourth quarter. Bank of America Corp DE now owns 127,326 shares of the medical technology company's stock worth $1,168,000 after buying an additional 3,304 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of Inogen in the fourth quarter worth $43,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Inogen Price Performance

Inogen stock traded up $0.29 during mid-day trading on Friday, reaching $6.59. 183,114 shares of the company traded hands, compared to its average volume of 240,426. The firm's 50 day moving average price is $6.72 and its 200 day moving average price is $8.44. The firm has a market capitalization of $177.19 million, a price-to-earnings ratio of -2.93 and a beta of 1.64. Inogen, Inc. has a 52-week low of $5.70 and a 52-week high of $13.33.

Inogen (NASDAQ:INGN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.27. The business had revenue of $82.28 million for the quarter, compared to the consensus estimate of $79.57 million. Inogen had a negative net margin of 15.89% and a negative return on equity of 27.38%. On average, sell-side analysts anticipate that Inogen, Inc. will post -1.73 EPS for the current year.

Analyst Upgrades and Downgrades

INGN has been the topic of several analyst reports. Stifel Nicolaus decreased their target price on shares of 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 shares of 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, Wall Street Zen downgraded shares of Inogen from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th.

Inogen Company 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.