Freedom Capital Upgrades Inogen (NASDAQ:INGN) to Strong-Buy

Key Points

• Freedom Capital upgraded Inogen (NASDAQ:INGN) to a Strong-Buy, but Weiss Ratings kept a Sell (D-)Moderate Buy with an average target of $11.00.
• Shares rose about 6.9% to open at $6.80 after Inogen reported Q results with EPS of ($0.26) that beat estimates by $0.10, though revenue of $81.7M missed forecasts and the company remains unprofitable with a projected FY EPS of -1.73.
• Institutional investors own roughly 89.94% of the stock, and several hedge funds recently initiated or increased positions in Inogen.

Inogen (NASDAQ:INGN - Get Free Report) was upgraded by stock analysts at Freedom Capital to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Inogen in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Inogen Stock Up 6.9%

INGN opened at $6.80 on Tuesday. The stock has a market cap of $185.16 million, a P/E ratio of -7.91 and a beta of 1.70. Inogen has a 52-week low of $5.34 and a 52-week high of $9.13. The business has a fifty day moving average of $6.08 and a 200 day moving average of $6.90.

Inogen (NASDAQ:INGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The medical technology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.10. The firm had revenue of $81.72 million during the quarter, compared to analyst estimates of $82.00 million. Inogen had a negative return on equity of 11.56% and a negative net margin of 6.52%. Equities analysts anticipate that Inogen will post -1.73 EPS for the current fiscal year.

Institutional Trading of Inogen

Hedge funds have recently modified their holdings of the stock. CSM Advisors LLC purchased a new stake in shares of Inogen in the third quarter worth about $2,973,000. Armistice Capital LLC purchased a new position in Inogen during the second quarter worth approximately $4,668,000. GSA Capital Partners LLP purchased a new position in Inogen during the third quarter worth approximately $1,397,000. Campbell & CO Investment Adviser LLC boosted its position in Inogen by 10.5% during the third quarter. Campbell & CO Investment Adviser LLC now owns 67,689 shares of the medical technology company's stock worth $553,000 after purchasing an additional 6,445 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in Inogen during the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 89.94% of the company's stock.

Inogen Company Profile

Inogen, Inc NASDAQ: INGN is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company's core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen's offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen's flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.

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