Comerica Bank Increases Stake in Inogen Inc (INGN)

Comerica Bank increased its position in Inogen Inc (NASDAQ:INGN) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,987 shares of the medical technology company’s stock after buying an additional 1,013 shares during the period. Comerica Bank owned 0.08% of Inogen worth $1,108,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its position in Inogen by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,220 shares of the medical technology company’s stock valued at $193,000 after buying an additional 50 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Inogen during the third quarter valued at approximately $211,000. Capstone Asset Management Co. increased its position in shares of Inogen by 4.6% in the third quarter. Capstone Asset Management Co. now owns 4,780 shares of the medical technology company’s stock valued at $286,000 after buying an additional 210 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Inogen during the third quarter valued at approximately $349,000. Finally, Arizona State Retirement System increased its position in shares of Inogen by 9.3% in the third quarter. Arizona State Retirement System now owns 8,200 shares of the medical technology company’s stock valued at $491,000 after buying an additional 700 shares in the last quarter.

Institutional Ownership by Quarter for Inogen (NASDAQ:INGN)

Inogen Inc (NASDAQ:INGN) traded up 0.61% during trading on Friday, hitting $79.15. The stock had a trading volume of 104,283 shares. Inogen Inc has a 52-week low of $43.16 and a 52-week high of $79.94. The company has a 50-day moving average price of $75.24 and a 200-day moving average price of $66.49. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 81.60 and a beta of 1.07.

Inogen (NASDAQ:INGN) last announced its earnings results on Tuesday, February 28th. The medical technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.15. The company earned $50.85 million during the quarter, compared to the consensus estimate of $46.19 million. Inogen had a net margin of 7.70% and a return on equity of 9.59%. Inogen’s revenue was up 25.7% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. Equities research analysts forecast that Inogen Inc will post $1.04 EPS for the current year.

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Several equities analysts have weighed in on INGN shares. JPMorgan Chase & Co. set a $78.00 price objective on Inogen and gave the company a “buy” rating in a report on Wednesday, March 1st. Zacks Investment Research cut Inogen from a “strong-buy” rating to a “hold” rating in a report on Monday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $83.00 price target on shares of Inogen in a report on Wednesday, April 5th. TheStreet raised Inogen from a “c” rating to a “b-” rating in a report on Tuesday, February 28th. Finally, Sidoti assumed coverage on Inogen in a research report on Tuesday. They issued a “neutral” rating and a $79.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Inogen presently has an average rating of “Buy” and an average target price of $73.67.

In related news, EVP Brenton Taylor sold 3,750 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $70.07, for a total transaction of $262,762.50. Following the completion of the transaction, the executive vice president now owns 31,851 shares of the company’s stock, valued at $2,231,799.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $75.28, for a total transaction of $188,200.00. Following the transaction, the executive vice president now directly owns 4,064 shares of the company’s stock, valued at approximately $305,937.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,750 shares of company stock valued at $635,588. 5.18% of the stock is owned by insiders.

About Inogen

Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.

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