Mission Wealth Management LP Reduces Holdings in Inogen, Inc. (NASDAQ:INGN)

Mission Wealth Management LP lessened its position in shares of Inogen, Inc. (NASDAQ:INGN) by 46.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,320 shares of the medical technology company’s stock after selling 35,315 shares during the quarter. Mission Wealth Management LP owned about 0.18% of Inogen worth $333,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Inogen by 84.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 2,419 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Inogen by 27.8% in the 4th quarter. SG Americas Securities LLC now owns 12,782 shares of the medical technology company’s stock worth $70,000 after acquiring an additional 2,782 shares during the last quarter. Strs Ohio boosted its position in shares of Inogen by 9.0% during the 4th quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock worth $226,000 after purchasing an additional 3,400 shares during the period. PNC Financial Services Group Inc. increased its holdings in Inogen by 2,918.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 7,646 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in Inogen by 39.8% in the third quarter. Glenmede Trust Co. NA now owns 39,670 shares of the medical technology company’s stock valued at $207,000 after purchasing an additional 11,285 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Inogen Trading Up 2.1 %

NASDAQ:INGN traded up $0.17 during midday trading on Friday, reaching $8.25. The company had a trading volume of 88,175 shares, compared to its average volume of 134,001. The stock’s fifty day simple moving average is $8.09 and its 200-day simple moving average is $7.34. Inogen, Inc. has a 12-month low of $4.13 and a 12-month high of $10.81.

Inogen (NASDAQ:INGN) last released its earnings results on Tuesday, May 7th. The medical technology company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.14. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The firm had revenue of $78.03 million for the quarter, compared to analyst estimates of $73.67 million. During the same period in the prior year, the firm earned ($0.63) earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Inogen, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Transactions at Inogen

In other Inogen news, EVP Jason Somer sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $8.56, for a total value of $85,600.00. Following the sale, the executive vice president now directly owns 4,452 shares in the company, valued at $38,109.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on INGN. Stifel Nicolaus raised their price target on Inogen from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. StockNews.com raised Inogen from a “sell” rating to a “hold” rating in a research report on Monday, June 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Inogen Company Profile

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.