Inogen, Inc (INGN) Expected to Announce Quarterly Sales of $61.97 Million
Wall Street analysts predict that Inogen, Inc (NASDAQ:INGN) will announce sales of $61.97 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Inogen’s earnings. The lowest sales estimate is $61.59 million and the highest is $62.20 million. Inogen reported sales of $50.85 million during the same quarter last year, which would suggest a positive year over year growth rate of 21.9%. The business is scheduled to issue its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Inogen will report full year sales of $61.97 million for the current financial year, with estimates ranging from $242.00 million to $247.80 million. For the next fiscal year, analysts expect that the firm will report sales of $302.19 million per share, with estimates ranging from $300.10 million to $304.27 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Inogen.
Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Tuesday, November 7th. The medical technology company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Inogen had a net margin of 11.36% and a return on equity of 13.37%. The business had revenue of $69.00 million during the quarter, compared to analyst estimates of $63.55 million. During the same period last year, the business posted $0.25 earnings per share. Inogen’s quarterly revenue was up 26.8% compared to the same quarter last year.
INGN has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $108.00 target price on shares of Inogen in a report on Friday, September 1st. Piper Jaffray Companies reiterated a “hold” rating and set a $90.00 target price on shares of Inogen in a report on Tuesday, September 12th. BidaskClub lowered shares of Inogen from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Thursday. Finally, Leerink Swann reiterated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Inogen in a report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $103.14.
In related news, EVP Matt Scribner sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $92.45, for a total value of $231,125.00. Following the completion of the transaction, the executive vice president now directly owns 6,964 shares in the company, valued at approximately $643,821.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond Huggenberger sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $91.67, for a total transaction of $1,283,380.00. Following the completion of the transaction, the director now owns 7,808 shares of the company’s stock, valued at $715,759.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,000 shares of company stock valued at $6,424,010. 5.31% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in INGN. Schroder Investment Management Group purchased a new position in Inogen in the 2nd quarter worth approximately $132,000. Ameritas Investment Partners Inc. grew its position in Inogen by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,495 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 86 shares during the period. Sei Investments Co. grew its position in Inogen by 38.1% in the 2nd quarter. Sei Investments Co. now owns 1,606 shares of the medical technology company’s stock worth $153,000 after purchasing an additional 443 shares during the period. Victory Capital Management Inc. grew its position in Inogen by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,036 shares of the medical technology company’s stock worth $194,000 after purchasing an additional 307 shares during the period. Finally, Pinebridge Investments L.P. grew its position in Inogen by 1.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,143 shares of the medical technology company’s stock worth $204,000 after purchasing an additional 33 shares during the period.
Shares of Inogen (NASDAQ:INGN) opened at $114.19 on Monday. Inogen has a 1-year low of $59.84 and a 1-year high of $124.90. The company has a market cap of $2,383.19, a PE ratio of 92.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.99.
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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