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

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

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

Inogen Trading Down 2.2 %

Shares of INGN stock opened at $10.14 on Monday. The stock’s fifty day simple moving average is $10.02 and its 200-day simple moving average is $10.22. The company has a market capitalization of $241.53 million, a price-to-earnings ratio of -4.51 and a beta of 1.02. Inogen has a 1-year low of $5.82 and a 1-year high of $13.33.

Hedge Funds Weigh In On Inogen

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in Inogen by 312.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,625 shares of the medical technology company’s stock valued at $1,694,000 after purchasing an additional 132,287 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Inogen by 2.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 896,106 shares of the medical technology company’s stock valued at $8,692,000 after buying an additional 23,891 shares in the last quarter. Barclays PLC grew its stake in shares of Inogen by 72.9% in the 3rd quarter. Barclays PLC now owns 55,508 shares of the medical technology company’s stock valued at $539,000 after buying an additional 23,398 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $5,377,000 after buying an additional 5,921 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Inogen during the third quarter valued at approximately $139,000. 89.94% of the stock is owned by institutional investors and hedge funds.

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.