Inogen Inc. (INGN) to Post FY2018 Earnings of $1.00 Per Share, Leerink Swann Forecasts
Inogen Inc. (NASDAQ:INGN) – Investment analysts at Leerink Swann raised their FY2018 earnings per share estimates for Inogen in a report released on Tuesday. Leerink Swann analyst D. Antalffy now expects that the firm will post earnings of $1.00 per share for the year, up from their previous forecast of $0.95. Leerink Swann has a “Outperform” rating and a $60.00 price target on the stock. Leerink Swann also issued estimates for Inogen’s FY2019 earnings at $1.27 EPS and FY2020 earnings at $1.56 EPS.
Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Thursday, August 4th. The medical technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $54.57 million for the quarter, compared to the consensus estimate of $52.44 million. Inogen had a return on equity of 9.50% and a net margin of 7.86%. Inogen’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS.
INGN has been the topic of a number of other reports. JPMorgan Chase & Co. began coverage on Inogen in a research note on Wednesday, July 13th. They issued an “overweight” rating on the stock. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $58.00 price target on shares of Inogen in a research note on Thursday, June 9th. Zacks Investment Research lowered Inogen from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Stifel Nicolaus lowered Inogen from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Inogen currently has a consensus rating of “Buy” and a consensus price target of $55.00.
Shares of Inogen (NASDAQ:INGN) traded up 1.53% during trading on Thursday, reaching $59.90. The company’s stock had a trading volume of 240,253 shares. Inogen has a 1-year low of $28.81 and a 1-year high of $61.87. The company has a market capitalization of $1.20 billion, a PE ratio of 88.09 and a beta of 0.88. The stock has a 50 day moving average of $58.49 and a 200-day moving average of $50.83.
A number of large investors have recently bought and sold shares of INGN. TIAA CREF Investment Management LLC increased its stake in Inogen by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 100,661 shares of the medical technology company’s stock worth $4,528,000 after buying an additional 940 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Inogen by 66.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 6,000 shares of the medical technology company’s stock worth $301,000 after buying an additional 2,400 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Inogen during the first quarter worth approximately $238,000. Bogle Investment Management L P DE acquired a new stake in Inogen during the first quarter worth approximately $861,000. Finally, Arizona State Retirement System increased its stake in Inogen by 5.8% in the first quarter. Arizona State Retirement System now owns 7,300 shares of the medical technology company’s stock worth $328,000 after buying an additional 400 shares in the last quarter.
In other Inogen news, CEO Raymond Huggenberger sold 20,747 shares of Inogen stock in a transaction on Monday, July 18th. The stock was sold at an average price of $50.41, for a total value of $1,045,856.27. Following the sale, the chief executive officer now owns 27,555 shares in the company, valued at $1,389,047.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Scribner sold 4,551 shares of Inogen stock in a transaction on Monday, September 19th. The shares were sold at an average price of $60.18, for a total value of $273,879.18. Following the completion of the sale, the executive vice president now owns 6,884 shares in the company, valued at approximately $414,279.12. The disclosure for this sale can be found here. Corporate insiders own 5.18% of the company’s stock.
Inogen, Inc is a medical technology company. The Company is engaged in developing, manufacturing and marketing 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 weighing approximately 4.8 or seven pounds.
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