Renaissance Technologies LLC Sells 104,200 Shares of Inogen, Inc $INGN

Renaissance Technologies LLC cut its holdings in shares of Inogen, Inc (NASDAQ:INGN) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,800 shares of the medical technology company’s stock after selling 104,200 shares during the period. Renaissance Technologies LLC owned approximately 1.77% of Inogen worth $2,959,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its stake in Inogen by 203.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 586,159 shares of the medical technology company’s stock valued at $3,622,000 after acquiring an additional 393,310 shares during the period. Armistice Capital LLC grew its stake in shares of Inogen by 46.3% in the fourth quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock worth $8,494,000 after acquiring an additional 400,000 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Inogen in the fourth quarter worth approximately $84,000. Prelude Capital Management LLC purchased a new position in shares of Inogen during the third quarter valued at approximately $82,000. Finally, Quarry LP purchased a new position in shares of Inogen during the fourth quarter valued at approximately $27,000. 89.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Insider Transactions at Inogen

In other Inogen news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total transaction of $72,190.80. Following the completion of the sale, the executive vice president owned 5,039 shares of the company’s stock, valued at approximately $33,257.40. The trade was a 68.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Inogen Price Performance

Shares of INGN opened at $6.05 on Friday. The firm has a market capitalization of $163.83 million, a P/E ratio of -6.72 and a beta of 1.55. Inogen, Inc has a one year low of $5.34 and a one year high of $9.13. The business has a fifty day moving average of $6.46 and a 200 day moving average of $6.38.

Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, August 6th. The medical technology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $95.08 million during the quarter, compared to the consensus estimate of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 12.89%. Analysts expect that Inogen, Inc will post -0.77 EPS for the current fiscal year.

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.