Inogen (NASDAQ:INGN) Upgraded by Needham & Company LLC to "Moderate Buy" Rating

Inogen (NASDAQ:INGN - Get Free Report) was upgraded by equities researchers at Needham & Company LLC from a "hold" rating to a "moderate buy" rating in a report released on Thursday, MarketBeat reports. The brokerage presently has a $12.00 price objective on the medical technology company's stock. Needham & Company LLC's price objective points to a potential upside of 80.32% from the company's previous close.

INGN has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on shares of Inogen from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Wall Street Zen cut shares of Inogen from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th.

Inogen Price Performance

Shares of INGN traded up $0.13 during mid-day trading on Thursday, reaching $6.66. The stock had a trading volume of 57,581 shares, compared to its average volume of 239,504. Inogen has a 52-week low of $5.70 and a 52-week high of $13.33. The business's fifty day moving average is $6.85 and its 200 day moving average is $8.66. The firm has a market cap of $178.93 million, a price-to-earnings ratio of -2.94 and a beta of 1.63.

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. Inogen had a negative net margin of 15.89% and a negative return on equity of 27.38%. The firm had revenue of $82.28 million during the quarter, compared to analyst estimates of $79.57 million. As a group, sell-side analysts anticipate that Inogen will post -1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INGN. Acadian Asset Management LLC lifted its position in Inogen by 35.7% in the first quarter. Acadian Asset Management LLC now owns 1,028,322 shares of the medical technology company's stock valued at $7,325,000 after buying an additional 270,453 shares during the last quarter. Royce & Associates LP lifted its position in shares of Inogen by 499.7% during the fourth quarter. Royce & Associates LP now owns 311,199 shares of the medical technology company's stock worth $2,854,000 after purchasing an additional 259,308 shares in the last quarter. DAFNA Capital Management LLC lifted its position in shares of Inogen by 119.4% during the first quarter. DAFNA Capital Management LLC now owns 458,065 shares of the medical technology company's stock worth $3,266,000 after purchasing an additional 249,275 shares in the last quarter. Prudential Financial Inc. lifted 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 worth $3,301,000 after purchasing an additional 210,961 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted 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 worth $2,417,000 after purchasing an additional 160,106 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company's stock.

About Inogen

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.