Inogen (NASDAQ:INGN) Issues Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Inogen (NASDAQ:INGNGet Rating) announced its quarterly earnings data on Thursday. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.24, Briefing.com reports. Inogen had a negative return on equity of 3.83% and a negative net margin of 5.64%. The firm had revenue of $103.38 million for the quarter, compared to analysts’ expectations of $100.64 million. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Inogen updated its Q3 2022 guidance to EPS.

Inogen Stock Down 3.2 %

NASDAQ INGN traded down $0.93 during trading hours on Friday, hitting $27.71. The company had a trading volume of 193,090 shares, compared to its average volume of 184,513. Inogen has a fifty-two week low of $22.51 and a fifty-two week high of $65.83. The business has a fifty day simple moving average of $26.32 and a 200-day simple moving average of $28.43. The firm has a market cap of $632.79 million, a P/E ratio of -31.49 and a beta of 1.02.

Institutional Investors Weigh In On Inogen

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Inogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,565,014 shares of the medical technology company’s stock valued at $83,157,000 after purchasing an additional 42,755 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Inogen by 15.1% during the first quarter. Renaissance Technologies LLC now owns 336,400 shares of the medical technology company’s stock valued at $10,906,000 after purchasing an additional 44,100 shares during the period. Federated Hermes Inc. increased its holdings in shares of Inogen by 1,774.4% during the first quarter. Federated Hermes Inc. now owns 234,502 shares of the medical technology company’s stock valued at $7,603,000 after purchasing an additional 221,991 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Inogen by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 181,133 shares of the medical technology company’s stock valued at $5,871,000 after purchasing an additional 1,836 shares during the period. Finally, Meros Investment Management LP increased its holdings in shares of Inogen by 14.6% during the first quarter. Meros Investment Management LP now owns 171,522 shares of the medical technology company’s stock valued at $5,560,000 after purchasing an additional 21,828 shares during the period. 96.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INGN has been the topic of several research analyst reports. StockNews.com cut Inogen from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Stifel Nicolaus reduced their price objective on Inogen from $40.00 to $30.00 in a research note on Monday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Inogen Company Profile

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Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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Earnings History for Inogen (NASDAQ:INGN)

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