Brokerages predict that Inogen Inc (NASDAQ:INGN) will report sales of $91.38 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Inogen’s earnings, with estimates ranging from $89.30 million to $92.90 million. Inogen reported sales of $95.29 million in the same quarter last year, which indicates a negative year-over-year growth rate of 4.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Inogen will report full year sales of $371.47 million for the current year, with estimates ranging from $370.13 million to $372.60 million. For the next year, analysts forecast that the firm will post sales of $408.01 million, with estimates ranging from $403.17 million to $412.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Inogen.
Inogen (NASDAQ:INGN) last announced its earnings results on Wednesday, August 7th. The medical technology company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.05). The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $106.88 million. Inogen had a return on equity of 13.34% and a net margin of 11.24%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 earnings per share.
A number of analysts have weighed in on the company. Svb Leerink reiterated a “market perform” rating and set a $47.00 price target (down from $78.00) on shares of Inogen in a report on Thursday, August 8th. BidaskClub downgraded Inogen from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. downgraded Inogen from a “neutral” rating to an “underweight” rating and set a $72.00 target price for the company. in a research note on Wednesday, July 3rd. KeyCorp restated a “hold” rating on shares of Inogen in a research note on Wednesday, August 7th. Finally, Piper Jaffray Companies reduced their target price on Inogen from $140.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $82.17.
Shares of NASDAQ:INGN opened at $44.60 on Tuesday. The firm has a market cap of $980.67 million, a P/E ratio of 19.39, a P/E/G ratio of 2.64 and a beta of 1.40. The company has a quick ratio of 6.82, a current ratio of 7.35 and a debt-to-equity ratio of 0.01. Inogen has a 12-month low of $41.19 and a 12-month high of $287.79. The business has a fifty day simple moving average of $55.12 and a 200 day simple moving average of $81.36.
In related news, Director Heath Lukatch purchased 2,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $43.01 per share, for a total transaction of $86,020.00. Following the purchase, the director now owns 5,481 shares of the company’s stock, valued at $235,737.81. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.54% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Inogen by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 205,160 shares of the medical technology company’s stock valued at $25,474,000 after buying an additional 16,183 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Inogen by 1.8% in the 1st quarter. Retirement Systems of Alabama now owns 23,286 shares of the medical technology company’s stock valued at $2,221,000 after buying an additional 401 shares during the last quarter. Chicago Capital LLC grew its holdings in Inogen by 66.1% in the 1st quarter. Chicago Capital LLC now owns 222,235 shares of the medical technology company’s stock valued at $21,195,000 after buying an additional 88,449 shares during the last quarter. Redmond Asset Management LLC grew its holdings in Inogen by 1.6% in the 1st quarter. Redmond Asset Management LLC now owns 22,273 shares of the medical technology company’s stock valued at $2,124,000 after buying an additional 341 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in Inogen by 27.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the medical technology company’s stock valued at $935,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.
Inogen Company Profile
Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for 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.
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