Zacks: Brokerages Anticipate Inogen, Inc (INGN) Will Announce Quarterly Sales of $64.14 Million
Analysts forecast that Inogen, Inc (NASDAQ:INGN) will announce sales of $64.14 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Inogen’s earnings, with the lowest sales estimate coming in at $63.69 million and the highest estimate coming in at $64.59 million. Inogen reported sales of $54.42 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.9%. The business is expected to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Inogen will report full year sales of $64.14 million for the current fiscal year, with estimates ranging from $240.71 million to $242.80 million. For the next year, analysts anticipate that the firm will post sales of $286.28 million per share, with estimates ranging from $281.31 million to $294.54 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Inogen.
Inogen (NASDAQ:INGN) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. The company had revenue of $64.10 million for the quarter, compared to the consensus estimate of $59.99 million. Inogen had a return on equity of 12.45% and a net margin of 10.36%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS.
A number of research analysts have commented on the company. Needham & Company LLC lowered their target price on 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 downgraded Inogen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded 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 issued a $90.00 target price on shares of Inogen in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co boosted their target price on Inogen to $102.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $90.80.
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Inogen (INGN) opened at 93.50 on Friday. Inogen has a 12-month low of $50.24 and a 12-month high of $105.35. The stock has a market capitalization of $1.94 billion, a P/E ratio of 81.16 and a beta of 0.99. The stock has a 50 day moving average price of $98.00 and a 200-day moving average price of $89.97.
In other news, EVP Alison Bauerlein sold 6,667 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $92.64, for a total transaction of $617,630.88. Following the completion of the sale, the executive vice president now owns 15,000 shares in the company, valued at approximately $1,389,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond Huggenberger sold 14,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $92.96, for a total value of $1,301,440.00. Following the sale, the director now owns 7,808 shares of the company’s stock, valued at approximately $725,831.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,667 shares of company stock valued at $5,602,976. 5.31% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INGN. BlackRock Inc. boosted its stake in shares of Inogen by 145,976.1% during the 1st quarter. BlackRock Inc. now owns 2,110,800 shares of the medical technology company’s stock worth $163,711,000 after acquiring an additional 2,109,355 shares in the last quarter. Koch Industries Inc. boosted its stake in shares of Inogen by 19,485.8% during the 2nd quarter. Koch Industries Inc. now owns 657,102 shares of the medical technology company’s stock worth $650,000 after acquiring an additional 653,747 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Inogen by 24.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,515,342 shares of the medical technology company’s stock worth $144,594,000 after acquiring an additional 301,737 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Inogen by 77.4% during the 2nd quarter. New York State Common Retirement Fund now owns 389,206 shares of the medical technology company’s stock worth $37,138,000 after acquiring an additional 169,778 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Inogen by 166.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 196,886 shares of the medical technology company’s stock worth $18,786,000 after acquiring an additional 122,913 shares in the last quarter.
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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