Inogen Inc (NASDAQ:INGN) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 3,538,100 shares, a decline of 10.7% from the May 30th total of 3,962,700 shares. Currently, 19.6% of the shares of the company are short sold. Based on an average trading volume of 584,700 shares, the days-to-cover ratio is presently 6.1 days.
INGN has been the topic of a number of recent analyst reports. Needham & Company LLC upgraded shares of Smart Global from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Friday, June 28th. Stifel Nicolaus upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $17.00 in a research note on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of from GBX 385 ($5.03) to GBX 480 ($6.27) and gave the stock an “overweight” rating in a research note on Wednesday, July 3rd. Finally, BidaskClub lowered shares of Amyris from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Inogen currently has a consensus rating of “Hold” and an average price target of $117.60.
Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP lifted its holdings in Inogen by 180.2% during the 1st quarter. Marshall Wace LLP now owns 55,580 shares of the medical technology company’s stock valued at $5,301,000 after purchasing an additional 35,747 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Inogen by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 205,160 shares of the medical technology company’s stock valued at $25,474,000 after purchasing an additional 16,183 shares during the last quarter. Legal & General Group Plc lifted its holdings in Inogen by 3.9% during the 4th quarter. Legal & General Group Plc now owns 17,963 shares of the medical technology company’s stock valued at $2,230,000 after purchasing an additional 668 shares during the last quarter. Renaissance Group LLC acquired a new stake in Inogen during the 1st quarter valued at $428,000. Finally, MetLife Investment Advisors LLC lifted its holdings in Inogen by 52.3% during the 4th quarter. MetLife Investment Advisors LLC now owns 18,341 shares of the medical technology company’s stock valued at $2,277,000 after purchasing an additional 6,302 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.
NASDAQ:INGN traded up $0.51 during trading hours on Friday, reaching $62.68. 244,170 shares of the stock were exchanged, compared to its average volume of 420,756. Inogen has a twelve month low of $61.35 and a twelve month high of $287.79. The company has a current ratio of 7.35, a quick ratio of 6.70 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $66.30. The stock has a market capitalization of $1.37 billion, a PE ratio of 27.25, a PEG ratio of 2.48 and a beta of 1.45.
Inogen (NASDAQ:INGN) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $90.20 million during the quarter, compared to analyst estimates of $89.69 million. Inogen had a net margin of 12.56% and a return on equity of 15.59%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Analysts forecast that Inogen will post 1.63 EPS for the current year.
Inogen Company Profile
Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for 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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