Strs Ohio grew its stake in shares of Inogen, Inc (NASDAQ:INGN) by 4,476.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,880 shares of the medical technology company’s stock after purchasing an additional 22,380 shares during the quarter. Strs Ohio owned approximately 0.11% of Inogen worth $2,175,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of INGN. Schroder Investment Management Group purchased a new stake in shares of Inogen during the second quarter valued at $132,000. Victory Capital Management Inc. boosted its stake in shares of Inogen by 36.1% during the first quarter. Victory Capital Management Inc. now owns 1,729 shares of the medical technology company’s stock valued at $134,000 after purchasing an additional 459 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Inogen by 6.1% during the second quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 86 shares during the period. Sei Investments Co. boosted its stake in shares of Inogen by 38.1% during the second quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock valued at $153,000 after purchasing an additional 443 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Inogen during the first quarter valued at $203,000.
Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS.
A number of analysts have recently issued reports on INGN shares. Zacks Investment Research lowered shares of Inogen from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Inogen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Piper Jaffray Companies restated a “hold” rating and issued a $90.00 price objective on shares of Inogen in a report on Tuesday, September 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $108.00 price objective on shares of Inogen in a report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $90.80.
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In related news, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $103.23, for a total transaction of $258,075.00. Following the completion of the transaction, the executive vice president now directly owns 6,964 shares in the company, valued at approximately $718,893.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond Huggenberger sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $91.67, for a total value of $1,283,380.00. Following the transaction, the director now owns 7,808 shares of the company’s stock, valued at $715,759.36. The disclosure for this sale can be found here. Insiders have sold a total of 73,667 shares of company stock valued at $7,041,641 over the last 90 days. 5.31% of the stock is currently owned by company insiders.
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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