Inogen (INGN) Price Target Cut to $111.00 by Analysts at Needham & Company LLC

Inogen (NASDAQ:INGN) had its target price dropped by equities researchers at Needham & Company LLC from $191.00 to $111.00 in a research report issued on Wednesday, Marketbeat reports. The firm currently has a “strong-buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 58.84% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Piper Jaffray Companies reduced their price objective on shares of Inogen from $290.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 27th. JPMorgan Chase & Co. reduced their price objective on shares of Inogen to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 27th. Zacks Investment Research raised shares of Inogen from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research note on Tuesday, February 5th. ValuEngine cut shares of Inogen from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, BidaskClub cut shares of Inogen from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $121.60.

Shares of INGN traded down $2.36 during mid-day trading on Wednesday, hitting $69.88. 10,042 shares of the company traded hands, compared to its average volume of 630,873. Inogen has a one year low of $64.01 and a one year high of $287.79. The stock has a market capitalization of $2.01 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 3.06 and a beta of 1.39.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, May 7th. The medical technology company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). Inogen had a net margin of 14.48% and a return on equity of 18.60%. The company had revenue of $90.20 million for the quarter, compared to the consensus estimate of $89.69 million. During the same period last year, the company earned $0.48 earnings per share. Inogen’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inogen will post 1.91 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of INGN. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Inogen in the first quarter worth $25,000. Hanson McClain Inc. acquired a new stake in Inogen in the first quarter worth $50,000. South Dakota Investment Council acquired a new stake in Inogen in the fourth quarter worth $87,000. First Mercantile Trust Co. acquired a new stake in Inogen in the fourth quarter worth $99,000. Finally, Advisor Group Inc. raised its holdings in Inogen by 210.0% in the fourth quarter. Advisor Group Inc. now owns 992 shares of the medical technology company’s stock worth $123,000 after purchasing an additional 672 shares during the period. Institutional investors own 98.63% of the company’s stock.

About Inogen

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. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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Analyst Recommendations for Inogen (NASDAQ:INGN)

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