Inogen (NASDAQ:INGN) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a report published on Wednesday morning.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Inogen in a report on Wednesday.

Inogen Stock Down 14.8 %

NASDAQ INGN opened at $8.11 on Wednesday. The company’s 50 day moving average is $10.20 and its 200-day moving average is $10.26. Inogen has a 12-month low of $5.82 and a 12-month high of $13.33. The firm has a market cap of $193.16 million, a P/E ratio of -3.60 and a beta of 1.02.

Hedge Funds Weigh In On Inogen

A number of institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in shares of Inogen by 167.4% in the 3rd quarter. Royce & Associates LP now owns 51,891 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 32,482 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Inogen by 312.5% during the 3rd 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 buying an additional 132,287 shares during the period. BNP Paribas Financial Markets boosted its position in Inogen by 13.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 42,137 shares of the medical technology company’s stock valued at $409,000 after buying an additional 5,131 shares during the period. Verition Fund Management LLC purchased a new stake in Inogen during the 3rd quarter valued at $106,000. Finally, Paloma Partners Management Co purchased a new stake in Inogen during the 3rd quarter valued at $126,000. 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.