Pitcairn Co. Invests $86,000 in Inogen, Inc. (NASDAQ:INGN)

Pitcairn Co. bought a new position in shares of Inogen, Inc. (NASDAQ:INGN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,618 shares of the medical technology company’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of 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 worth $29,000 after purchasing an additional 2,419 shares during the period. SG Americas Securities LLC grew its position in Inogen by 27.8% in the fourth quarter. SG Americas Securities LLC now owns 12,782 shares of the medical technology company’s stock valued at $70,000 after acquiring an additional 2,782 shares during the last quarter. Strs Ohio grew its position in Inogen by 9.0% in the fourth quarter. Strs Ohio now owns 41,300 shares of the medical technology company’s stock valued at $226,000 after acquiring an additional 3,400 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Inogen by 2,918.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock valued at $43,000 after acquiring an additional 7,646 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Inogen in the first quarter valued at about $81,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INGN shares. Needham & Company LLC restated a “hold” rating on shares of Inogen in a report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on Inogen from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, StockNews.com lowered Inogen from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Inogen Stock Performance

Inogen stock opened at $9.70 on Friday. Inogen, Inc. has a 52-week low of $4.13 and a 52-week high of $10.64. The stock’s 50 day moving average price is $8.46 and its two-hundred day moving average price is $7.68.

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

Insider Buying and Selling at Inogen

In other Inogen news, EVP Jason Somer sold 10,000 shares of Inogen stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $8.56, for a total transaction of $85,600.00. Following the completion of the transaction, the executive vice president now owns 4,452 shares in the company, valued at approximately $38,109.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.99% of the company’s stock.

Inogen 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.