First Trust Advisors LP Has $7.19 Million Holdings in Inogen Inc (NASDAQ:INGN)
First Trust Advisors LP boosted its stake in Inogen Inc (NASDAQ:INGN) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,448 shares of the medical technology company’s stock after purchasing an additional 4,152 shares during the period. First Trust Advisors LP owned about 0.14% of Inogen worth $7,189,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Zacks Investment Management increased its stake in shares of Inogen by 1.6% during the second quarter. Zacks Investment Management now owns 17,033 shares of the medical technology company’s stock valued at $3,174,000 after buying an additional 261 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Inogen by 0.4% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 72,381 shares of the medical technology company’s stock valued at $13,487,000 after buying an additional 291 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Inogen by 12.2% during the second quarter. Xact Kapitalforvaltning AB now owns 2,765 shares of the medical technology company’s stock valued at $515,000 after buying an additional 300 shares during the period. Piedmont Investment Advisors LLC grew its stake in Inogen by 9.8% in the second quarter. Piedmont Investment Advisors LLC now owns 4,059 shares of the medical technology company’s stock worth $756,000 after purchasing an additional 361 shares during the period. Finally, Amalgamated Bank grew its stake in Inogen by 15.8% in the second quarter. Amalgamated Bank now owns 2,874 shares of the medical technology company’s stock worth $536,000 after purchasing an additional 393 shares during the period. 98.65% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on INGN shares. Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Thursday, September 27th. BidaskClub cut Inogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Stifel Nicolaus set a $258.00 price target on Inogen and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Needham & Company LLC cut Inogen from a “strong-buy” rating to a “buy” rating and upped their price target for the stock from $254.00 to $296.00 in a research note on Monday, September 10th. Finally, ValuEngine cut Inogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Inogen presently has a consensus rating of “Buy” and an average price target of $244.67.
Inogen (NASDAQ:INGN) last released its earnings results on Tuesday, November 6th. The medical technology company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.21. Inogen had a return on equity of 18.91% and a net margin of 12.28%. The business had revenue of $95.29 million for the quarter, compared to the consensus estimate of $90.94 million. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. On average, equities analysts expect that Inogen Inc will post 2.12 EPS for the current fiscal year.
In other news, Director Heath Lukatch sold 500 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $193.97, for a total transaction of $96,985.00. Following the transaction, the director now directly owns 1,489 shares of the company’s stock, valued at $288,821.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Loren L. Mcfarland sold 2,000 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $155.24, for a total value of $310,480.00. Following the transaction, the director now directly owns 2,989 shares in the company, valued at $464,012.36. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $7,580,605 over the last three months. Corporate insiders own 5.29% of the company’s stock.
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Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
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