Millennium Management LLC Increases Stake in Inogen, Inc. (NASDAQ:INGN)

Millennium Management LLC grew its holdings in Inogen, Inc. (NASDAQ:INGN - Free Report) by 162.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,653 shares of the medical technology company's stock after purchasing an additional 88,924 shares during the period. Millennium Management LLC owned approximately 0.60% of Inogen worth $1,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AlphaQuest LLC purchased a new position in shares of Inogen in the fourth quarter valued at $43,000. Meeder Asset Management Inc. bought a new position in Inogen in the 4th quarter worth about $56,000. Integrated Quantitative Investments LLC purchased a new position in Inogen during the 4th quarter valued at about $92,000. Intech Investment Management LLC bought a new stake in shares of Inogen during the fourth quarter valued at about $94,000. Finally, Ieq Capital LLC purchased a new stake in shares of Inogen in the fourth quarter worth about $94,000. Institutional investors own 89.94% of the company's stock.

Inogen Price Performance

NASDAQ INGN traded up $0.29 during trading on Friday, reaching $6.59. The company's stock had a trading volume of 183,114 shares, compared to its average volume of 239,636. The firm has a fifty day moving average of $6.73 and a 200 day moving average of $8.48. Inogen, Inc. has a one year low of $5.70 and a one year high of $13.33. The stock has a market capitalization of $177.19 million, a PE ratio of -2.93 and a beta of 1.63.

Inogen (NASDAQ:INGN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.27. The company had revenue of $82.28 million during 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%. Research analysts expect that Inogen, Inc. will post -1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INGN has been the subject of a number of analyst reports. Needham & Company LLC upgraded shares of Inogen from a "hold" rating to a "moderate buy" rating and set a $12.00 price objective for the company in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Inogen from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on shares of Inogen from $10.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, May 8th.

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.