Inogen Inc (INGN) is Reiterated by Needham to Strong Buy, Raises Price Target to $ 58

Inogen Inc (INGN) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 58 from a previous price target of $47 . Needham advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Inogen Inc. Inogen Inc was Initiated by Piper Jaffray to “Neutral” on Mar 24, 2016. Shares were Reiterated by Needham on Feb 12, 2016 to “Strong Buy” and Lowered the Price Target to $ 45 from a previous price target of $55 .

On the company’s financial health, Inogen Inc reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.12. The company had revenue of $43.00 million for the quarter, compared to analysts expectations of $41.89 million. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Inogen Inc closed down -0.27 points or -0.56% at $48.27 with 3,57,661 shares getting traded on Friday. Post opening the session at $48.13, the shares hit an intraday low of $46.52 and an intraday high of $48.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 19, 2016, Raymond Huggenberger (President and CEO) sold 29,635 shares at $48.59 per share price. According to the SEC, on Apr 19, 2016, Matt Scribner (EVP, Operations) sold 4,102 shares at $48.62 per share price. On Apr 14, 2016, Brenton Taylor (EVP, Engineering) sold 6,500 shares at $48.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Inogen Inc. is a medical technology company. The Company is engaged in developing manufacturing and marketing portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company offers Inogen One systems such as Inogen One G3 and G2 that concentrate the air around the patients to offer a single source of supplemental oxygen. The Inogen One G3 and G2 have up to 4.5 and five hours of battery life respectively. The Company’s Inogen One G2 is effective for nocturnal use.

Inogen Inc

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