New York State Common Retirement Fund Sells 402,925 Shares of Inogen, Inc (NASDAQ:INGN)

Key Points

• The New York State Common Retirement Fund significantly reduced its stake in Inogen, Inc by 98.2%, selling 402,925 shares and leaving them with just 7,397 shares valued at $53,000.
• Several hedge funds increased their positions in Inogen, with Prudential Financial boosting its stake by 141.5% and Arrowstreet Capital by 154.8% during the fourth quarter.
• Analysts have mixed ratings on Inogen, with Needham upgrading the stock to a "moderate buy" with a price target of $12.00, while Stifel Nicolaus lowered its price target from $10.00 to $7.00, maintaining a "hold" rating.

New York State Common Retirement Fund cut its position in shares of Inogen, Inc (NASDAQ:INGN - Free Report) by 98.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,397 shares of the medical technology company's stock after selling 402,925 shares during the quarter. New York State Common Retirement Fund's holdings in Inogen were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in INGN. American Century Companies Inc. boosted its position in shares of Inogen by 10.2% during the fourth quarter. American Century Companies Inc. now owns 54,856 shares of the medical technology company's stock valued at $503,000 after purchasing an additional 5,089 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Inogen during the fourth quarter valued at approximately $153,000. Prudential Financial Inc. boosted its position in shares of Inogen by 141.5% during the fourth quarter. Prudential Financial Inc. now owns 360,002 shares of the medical technology company's stock valued at $3,301,000 after purchasing an additional 210,961 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Inogen by 154.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 263,561 shares of the medical technology company's stock valued at $2,417,000 after purchasing an additional 160,106 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Inogen during the fourth quarter valued at approximately $56,000. 89.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INGN shares. Needham & Company LLC upgraded Inogen from a "hold" rating to a "moderate buy" rating and set a $12.00 price target on the stock in a research report on Thursday, May 22nd. 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. Finally, Stifel Nicolaus lowered their price objective on Inogen from $10.00 to $7.00 and set a "hold" rating for the company in a research note on Thursday, May 8th.

Inogen Stock Performance

Shares of NASDAQ:INGN opened at $6.80 on Monday. The stock has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $7.84. The stock has a market capitalization of $182.85 million, a price-to-earnings ratio of -5.91 and a beta of 1.66. Inogen, Inc has a 12-month low of $5.70 and a 12-month high of $13.33.

Inogen (NASDAQ:INGN - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $79.57 million. Inogen had a negative return on equity of 14.76% and a negative net margin of 8.08%. As a group, equities research analysts predict that Inogen, Inc will post -1.73 EPS for the current year.

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.

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