Cabot Wealth Management Inc. Trims Stake in Inogen, Inc (INGN)
Cabot Wealth Management Inc. reduced its stake in shares of Inogen, Inc (NASDAQ:INGN) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,476 shares of the medical technology company’s stock after selling 655 shares during the period. Cabot Wealth Management Inc. owned 0.20% of Inogen worth $3,944,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of INGN. Schroder Investment Management Group purchased a new stake in Inogen in the 2nd quarter worth approximately $132,000. Ameritas Investment Partners Inc. grew its stake in Inogen by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock worth $143,000 after acquiring an additional 86 shares during the period. Sei Investments Co. grew its stake in Inogen by 38.1% in the 2nd quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock worth $153,000 after acquiring an additional 443 shares during the period. Victory Capital Management Inc. grew its stake in Inogen by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,036 shares of the medical technology company’s stock worth $194,000 after acquiring an additional 307 shares during the period. Finally, Pinebridge Investments L.P. grew its stake in Inogen by 1.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,143 shares of the medical technology company’s stock worth $204,000 after acquiring an additional 33 shares during the period.
Shares of Inogen, Inc (NASDAQ:INGN) traded down $5.53 during midday trading on Friday, hitting $114.19. 238,300 shares of the stock traded hands, compared to its average volume of 168,926. Inogen, Inc has a one year low of $59.84 and a one year high of $124.90. The stock has a market cap of $2,383.15, a PE ratio of 92.84, a PEG ratio of 4.80 and a beta of 0.99.
Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Tuesday, November 7th. The medical technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Inogen had a net margin of 11.36% and a return on equity of 13.37%. The company had revenue of $69.00 million during the quarter, compared to analysts’ expectations of $63.55 million. During the same period in the previous year, the company earned $0.25 EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. analysts predict that Inogen, Inc will post 1.19 earnings per share for the current year.
In other news, EVP Matt Scribner sold 2,500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $92.45, for a total transaction of $231,125.00. Following the completion of the sale, the executive vice president now directly owns 6,964 shares of the company’s stock, valued at approximately $643,821.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alison Bauerlein sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $94.93, for a total transaction of $1,423,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock valued at $6,424,010 over the last three months. Corporate insiders own 5.31% of the company’s stock.
Several analysts have commented on INGN shares. Zacks Investment Research raised shares of Inogen from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $108.00 target price on shares of Inogen in a research note on Friday, September 1st. BidaskClub cut shares of Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $90.00 target price on shares of Inogen in a research note on Tuesday, September 12th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Inogen in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Inogen currently has an average rating of “Buy” and a consensus price target of $103.14.
Inogen Company Profile
Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.
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