Zacks: Analysts Expect Inogen, Inc (INGN) Will Post Quarterly Sales of $64.14 Million
Equities analysts forecast that Inogen, Inc (NASDAQ:INGN) will announce $64.14 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Inogen’s earnings. The lowest sales estimate is $63.69 million and the highest is $64.59 million. Inogen reported sales of $54.42 million in the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The company is scheduled to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Inogen will report full-year sales of $64.14 million for the current financial year, with estimates ranging from $240.71 million to $242.80 million. For the next fiscal year, analysts forecast that the company will post sales of $286.28 million per share, with estimates ranging from $281.31 million to $294.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Inogen.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. Inogen had a net margin of 10.36% and a return on equity of 12.45%. The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate of $59.99 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year.
A number of analysts recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Inogen from $108.00 to $96.00 and set a “strong-buy” rating on the stock in a research note on Thursday, June 8th. BidaskClub lowered shares of Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Inogen from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Piper Jaffray Companies restated a “hold” rating and set a $90.00 target price on shares of Inogen in a research note on Tuesday, September 12th. 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 note on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $91.33.
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Inogen (NASDAQ:INGN) opened at 100.87 on Friday. The stock has a market cap of $2.09 billion, a P/E ratio of 87.56 and a beta of 1.02. The stock has a 50 day moving average of $95.95 and a 200-day moving average of $87.38. Inogen has a 12 month low of $50.24 and a 12 month high of $105.35.
In other Inogen news, Director Raymond Huggenberger sold 14,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $92.96, for a total value of $1,301,440.00. Following the transaction, the director now directly owns 7,808 shares in the company, valued at $725,831.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $103.23, for a total transaction of $258,075.00. Following the completion of the transaction, the executive vice president now owns 6,964 shares in the company, valued at $718,893.72. The disclosure for this sale can be found here. Insiders have sold 44,667 shares of company stock worth $4,170,776 over the last 90 days. Insiders own 5.31% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. purchased a new position in Inogen in the first quarter valued at approximately $109,000. Schroder Investment Management Group purchased a new position in Inogen in the second quarter valued at approximately $132,000. Victory Capital Management Inc. increased 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 purchasing an additional 459 shares during the last quarter. Sei Investments Co. increased its stake in Inogen by 38.1% in the second quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock valued at $153,000 after purchasing an additional 443 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Inogen in the first quarter valued at approximately $203,000.
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.
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