Inogen (NASDAQ:INGN) Receives Hold Rating from Needham & Company LLC

Inogen (NASDAQ:INGN)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

Separately, StockNews.com cut Inogen from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Inogen Stock Performance

Shares of Inogen stock opened at $11.69 on Thursday. The business has a 50-day moving average price of $9.84 and a 200 day moving average price of $10.13. Inogen has a twelve month low of $5.82 and a twelve month high of $13.33.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, November 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.26. The firm had revenue of $88.83 million for the quarter, compared to analysts’ expectations of $83.68 million. Inogen had a negative net margin of 15.89% and a negative return on equity of 27.38%. During the same quarter last year, the company earned ($1.97) EPS. As a group, equities analysts expect that Inogen will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Inogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Inogen by 312.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,625 shares of the medical technology company’s stock worth $1,694,000 after buying an additional 132,287 shares in the last quarter. AQR Capital Management LLC raised its holdings in Inogen by 29.3% in the 2nd quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock valued at $4,642,000 after acquiring an additional 129,307 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Inogen during the 2nd quarter worth approximately $651,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Inogen during the 2nd quarter worth approximately $457,000. Finally, Royce & Associates LP grew its position in shares of Inogen by 167.4% in the third quarter. Royce & Associates LP now owns 51,891 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 32,482 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Inogen

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.