Needham & Company LLC Reiterates “Hold” Rating for Inogen (NASDAQ:INGN)

Inogen (NASDAQ:INGN)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

Separately, StockNews.com lowered Inogen from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th.

Inogen Stock Down 7.1 %

Shares of NASDAQ INGN opened at $6.59 on Wednesday. The stock has a market cap of $177.19 million, a P/E ratio of -2.93 and a beta of 1.48. The firm’s 50-day simple moving average is $8.70 and its 200 day simple moving average is $9.31. Inogen has a fifty-two week low of $6.42 and a fifty-two week high of $13.33.

Institutional Trading of Inogen

A number of hedge funds have recently made changes to their positions in the stock. Royce & Associates LP increased its stake in shares of Inogen by 499.7% during the 4th 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 during the last quarter. Prudential Financial Inc. boosted its holdings in Inogen by 141.5% in 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. Arrowstreet Capital Limited Partnership boosted its holdings in Inogen by 154.8% in 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. Dimensional Fund Advisors LP increased its position in Inogen by 25.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 607,837 shares of the medical technology company’s stock worth $5,574,000 after buying an additional 123,208 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Inogen by 162.5% during the fourth quarter. Millennium Management LLC now owns 143,653 shares of the medical technology company’s stock valued at $1,317,000 after buying an additional 88,924 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.