Meros Investment Management LP Has $3.23 Million Stake in Inogen, Inc. (NASDAQ:INGN)

Meros Investment Management LP raised its stake in Inogen, Inc. (NASDAQ:INGN) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,209 shares of the medical technology company’s stock after acquiring an additional 6,385 shares during the period. Inogen comprises about 1.5% of Meros Investment Management LP’s investment portfolio, making the stock its 29th largest position. Meros Investment Management LP’s holdings in Inogen were worth $3,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Inogen by 29.3% during the second quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock worth $4,642,000 after buying an additional 129,307 shares during the last quarter. Divisadero Street Capital Management LP grew its position in Inogen by 682.3% during the 2nd quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock worth $19,079,000 after acquiring an additional 2,046,766 shares during the last quarter. XTX Topco Ltd bought a new stake in Inogen during the 2nd quarter worth approximately $178,000. Meeder Asset Management Inc. acquired a new stake in Inogen during the 2nd quarter valued at $30,000. Finally, American Century Companies Inc. raised its position in Inogen by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 38,627 shares of the medical technology company’s stock valued at $314,000 after purchasing an additional 9,626 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on INGN shares. Needham & Company LLC restated a “hold” rating on shares of Inogen in a report on Wednesday, August 7th. StockNews.com raised shares of Inogen from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Inogen currently has an average rating of “Hold” and an average price target of $7.00.

Inogen Stock Performance

NASDAQ:INGN opened at $9.75 on Friday. The company has a market cap of $229.88 million, a price-to-earnings ratio of -2.35 and a beta of 1.05. The stock’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $8.93. Inogen, Inc. has a 52-week low of $4.13 and a 52-week high of $13.33.

Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.31. The business had revenue of $88.77 million for the quarter, compared to analyst estimates of $82.50 million. Inogen had a negative return on equity of 45.37% and a negative net margin of 28.30%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. On average, equities analysts predict that Inogen, Inc. will post -1.92 EPS for the current fiscal year.

Inogen Company Profile

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.