Insider Selling: Inogen, Inc (INGN) EVP Sells $4,086,950.00 in Stock
Inogen, Inc (NASDAQ:INGN) EVP Byron Myers sold 35,000 shares of Inogen stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $116.77, for a total transaction of $4,086,950.00. Following the completion of the sale, the executive vice president now owns 48,600 shares of the company’s stock, valued at approximately $5,675,022. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Inogen, Inc (INGN) opened at $123.35 on Friday. The company has a market cap of $2,574.36, a P/E ratio of 100.29, a PEG ratio of 5.18 and a beta of 0.99. Inogen, Inc has a 12-month low of $60.02 and a 12-month high of $124.90.
Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, November 7th. The medical technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $69.00 million during the quarter, compared to analysts’ expectations of $63.55 million. Inogen had a net margin of 11.36% and a return on equity of 13.37%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. equities research analysts forecast that Inogen, Inc will post 1.19 EPS for the current year.
Several analysts have weighed in on INGN shares. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and issued a $108.00 price objective 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 reiterated a “hold” rating and issued a $90.00 price objective on shares of Inogen in a research note on Tuesday, September 12th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Inogen in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $103.14.
Large investors have recently modified their holdings of the company. Schroder Investment Management Group acquired a new position in shares of Inogen in the 2nd quarter valued at approximately $132,000. Ameritas Investment Partners Inc. raised its position in shares of Inogen by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock valued at $143,000 after buying an additional 86 shares in the last quarter. Sei Investments Co. raised its position in shares of Inogen by 38.1% in the 2nd quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock valued at $153,000 after buying an additional 443 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Inogen by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,036 shares of the medical technology company’s stock valued at $194,000 after buying an additional 307 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its position in shares of Inogen by 1.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,143 shares of the medical technology company’s stock valued at $204,000 after buying an additional 33 shares in the last quarter. Institutional investors own 99.60% of the company’s stock.
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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