Inogen, Inc (INGN) Expected to Post Quarterly Sales of $59.17 Million
Equities analysts predict that Inogen, Inc (NASDAQ:INGN) will announce $59.17 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Inogen’s earnings, with the lowest sales estimate coming in at $56.92 million and the highest estimate coming in at $60.61 million. Inogen reported sales of $54.57 million during the same quarter last year, which suggests a positive year over year growth rate of 8.4%. The business is scheduled to announce its next earnings report on Thursday, August 3rd.
On average, analysts expect that Inogen will report full year sales of $59.17 million for the current financial year, with estimates ranging from $237.50 million to $240.20 million. For the next fiscal year, analysts anticipate that the company will post sales of $280.08 million per share, with estimates ranging from $277.21 million to $283.88 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Inogen.
Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. The company had revenue of $52.50 million for the quarter, compared to the consensus estimate of $49.06 million. Inogen had a return on equity of 11.67% and a net margin of 9.32%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “strong-buy” rating and set a $94.00 price target on the stock in a research note on Monday, May 15th. Needham & Company LLC boosted their price target on shares of Inogen from $96.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 9th. Stifel Nicolaus boosted their price target on shares of Inogen from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. TheStreet upgraded shares of Inogen from a “c” rating to a “b-” rating in a research note on Tuesday, February 28th. Finally, J P Morgan Chase & Co upped their target price on shares of Inogen to $102.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $91.60.
Shares of Inogen (NASDAQ INGN) traded up 2.0696% during midday trading on Wednesday, reaching $93.6999. The company’s stock had a trading volume of 52,843 shares. Inogen has a 52 week low of $44.26 and a 52 week high of $95.43. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 83.8103 and a beta of 1.04. The company has a 50 day moving average of $87.37 and a 200-day moving average of $74.82.
In other Inogen news, EVP Matt Scribner sold 2,500 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were 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 in the company, valued at $305,937.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Benjamin M. Anderson sold 4,445 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $81.05, for a total transaction of $360,267.25. Following the transaction, the director now owns 4,445 shares in the company, valued at $360,267.25. The disclosure for this sale can be found here. Insiders have sold 83,848 shares of company stock worth $7,283,201 over the last 90 days. 5.31% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in Inogen during the first quarter valued at approximately $109,000. Victory Capital Management Inc. raised its stake in Inogen by 36.1% in the first quarter. Victory Capital Management Inc. now owns 1,729 shares of the medical technology company’s stock valued at $134,000 after buying an additional 459 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Inogen by 4.1% in the first quarter. State of Alaska Department of Revenue now owns 1,790 shares of the medical technology company’s stock valued at $138,000 after buying an additional 70 shares in the last quarter. Jane Street Group LLC acquired a new stake in Inogen during the first quarter valued at approximately $203,000. Finally, Guggenheim Capital LLC acquired a new stake in Inogen during the fourth quarter valued at approximately $211,000.
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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