Inogen (NASDAQ:INGN) Rating Increased to Buy at StockNews.com

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

Separately, Needham & Company LLC reissued a “hold” rating on shares of Inogen in a research report on Thursday, January 30th.

Inogen Price Performance

Inogen stock opened at $10.61 on Monday. The firm has a fifty day moving average of $10.01 and a 200-day moving average of $10.21. Inogen has a 52-week low of $5.82 and a 52-week high of $13.33. The firm has a market capitalization of $252.73 million, a P/E ratio of -4.72 and a beta of 1.02.

Institutional Trading of Inogen

A number of hedge funds have recently made changes to their positions in INGN. Sanctuary Advisors LLC purchased a new stake in Inogen during the 2nd quarter worth $651,000. Royce & Associates LP grew its stake in shares of Inogen by 167.4% during the third quarter. Royce & Associates LP now owns 51,891 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 32,482 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Inogen by 312.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,625 shares of the medical technology company’s stock worth $1,694,000 after acquiring an additional 132,287 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Inogen by 13.9% in the third quarter. BNP Paribas Financial Markets now owns 42,137 shares of the medical technology company’s stock worth $409,000 after acquiring an additional 5,131 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Inogen in the third quarter valued at about $106,000. Hedge funds and other institutional investors 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.