Inogen (NASDAQ:INGN) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Inogen (NASDAQ:INGN) from a hold rating to a buy rating in a report released on Thursday.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research report on Friday, November 8th.

Inogen Trading Down 3.3 %

Shares of INGN stock opened at $8.96 on Thursday. The firm has a market capitalization of $213.43 million, a P/E ratio of -3.98 and a beta of 1.02. Inogen has a 1 year low of $5.08 and a 1 year high of $13.33. The firm’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $9.72.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Inogen by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,868 shares of the medical technology company’s stock valued at $193,000 after purchasing an additional 1,188 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Inogen in the 2nd quarter valued at $30,000. BNP Paribas Financial Markets grew its position in Inogen by 13.9% in the third quarter. BNP Paribas Financial Markets now owns 42,137 shares of the medical technology company’s stock valued at $409,000 after acquiring an additional 5,131 shares during the period. Geode Capital Management LLC grew its position in Inogen by 1.1% in the third quarter. Geode Capital Management LLC now owns 554,191 shares of the medical technology company’s stock valued at $5,377,000 after acquiring an additional 5,921 shares during the period. Finally, Quarry LP acquired a new position in Inogen during the third quarter worth $59,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Inogen

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.