Fred Alger Management LLC Reduces Holdings in Inogen, Inc. (NASDAQ:INGN)

Fred Alger Management LLC reduced its stake in Inogen, Inc. (NASDAQ:INGN - Free Report) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 600,995 shares of the medical technology company's stock after selling 111,847 shares during the period. Fred Alger Management LLC owned 2.52% of Inogen worth $5,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INGN. JPMorgan Chase & Co. lifted its stake in Inogen by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 896,106 shares of the medical technology company's stock valued at $8,692,000 after buying an additional 23,891 shares during the last quarter. Ameriprise Financial Inc. raised its position in Inogen by 0.6% in the 4th quarter. Ameriprise Financial Inc. now owns 848,980 shares of the medical technology company's stock valued at $7,785,000 after purchasing an additional 5,148 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Inogen by 4.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 631,230 shares of the medical technology company's stock worth $5,788,000 after purchasing an additional 28,517 shares during the period. Dimensional Fund Advisors LP grew its position in Inogen by 25.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 607,837 shares of the medical technology company's stock worth $5,574,000 after purchasing an additional 123,208 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Inogen by 17.9% during the 4th quarter. Renaissance Technologies LLC now owns 492,900 shares of the medical technology company's stock worth $4,520,000 after purchasing an additional 75,000 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

Inogen Trading Down 1.1%

Shares of NASDAQ:INGN traded down $0.07 during midday trading on Thursday, hitting $5.82. The stock had a trading volume of 105,994 shares, compared to its average volume of 236,132. Inogen, Inc. has a 1 year low of $5.70 and a 1 year high of $13.33. The stock has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $8.84. The company has a market capitalization of $156.35 million, a PE ratio of -2.59 and a beta of 1.63.

Inogen (NASDAQ:INGN - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.27. The company had revenue of $82.28 million for the quarter, compared to analysts' expectations of $79.57 million. Inogen had a negative return on equity of 27.38% and a negative net margin of 15.89%. As a group, equities analysts expect that Inogen, Inc. will post -1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

INGN has been the topic of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of Inogen in a report on Wednesday, April 9th. Stifel Nicolaus lowered their target price on Inogen from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, May 8th. Finally, StockNews.com lowered Inogen from a "buy" rating to a "hold" rating in a report 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.