Inogen, Inc (NASDAQ:INGN) Expected to Post Quarterly Sales of $60.29 Million
Equities research analysts expect Inogen, Inc (NASDAQ:INGN) to report sales of $60.29 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Inogen’s earnings. The lowest sales estimate is $59.97 million and the highest is $60.61 million. Inogen posted sales of $54.57 million during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The company is expected to issue its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Inogen will report full-year sales of $60.29 million for the current year, with estimates ranging from $237.50 million to $240.20 million. For the next financial year, analysts anticipate that the firm will post sales of $280.36 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 follow Inogen.
Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.15. Inogen had a net margin of 9.32% and a return on equity of 11.67%. The business had revenue of $52.50 million for the quarter, compared to analysts’ expectations of $49.06 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year.
Several research firms have recently commented on INGN. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co lifted their price target on Inogen to $102.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. Needham & Company LLC lifted their price target on Inogen from $96.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Friday, June 9th. Stifel Nicolaus lifted their price target on Inogen from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Finally, Sidoti began coverage on Inogen in a report on Tuesday, April 18th. They set a “neutral” rating and a $79.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $91.60.
In related news, insider Scott Wilkinson sold 23,437 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $88.06, for a total transaction of $2,063,862.22. Following the completion of the sale, the insider now directly owns 54,088 shares of the company’s stock, valued at approximately $4,762,989.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $91.54, for a total value of $228,850.00. Following the sale, the executive vice president now directly owns 4,833 shares of the company’s stock, valued at $442,412.82. The disclosure for this sale can be found here. Insiders have sold a total of 97,848 shares of company stock valued at $8,631,966 over the last three months. Corporate insiders own 5.31% of the company’s stock.
Several hedge funds have recently modified their holdings of INGN. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Inogen during the second quarter worth about $2,052,000. Aperio Group LLC acquired a new stake in shares of Inogen during the second quarter worth about $854,000. Rockefeller Financial Services Inc. increased its stake in shares of Inogen by 5.2% in the second quarter. Rockefeller Financial Services Inc. now owns 309,755 shares of the medical technology company’s stock worth $29,557,000 after buying an additional 15,377 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of Inogen during the second quarter worth about $529,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Inogen by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 3,212 shares of the medical technology company’s stock worth $306,000 after buying an additional 1,422 shares during the last quarter.
Inogen (NASDAQ INGN) traded down 1.58% on Friday, reaching $95.22. 142,600 shares of the company’s stock were exchanged. The firm has a market cap of $1.96 billion, a PE ratio of 85.17 and a beta of 1.04. The firm has a 50 day moving average price of $93.50 and a 200 day moving average price of $79.08. Inogen has a one year low of $50.01 and a one year high of $97.71.
Inogen Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Inogen Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inogen Inc and related companies with MarketBeat.com's FREE daily email newsletter.