Analysts expect Inogen, Inc (NASDAQ:INGN) to post sales of $59.17 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Inogen’s earnings, with the lowest sales estimate coming in at $56.92 million and the highest estimate coming in at $60.61 million. Inogen posted sales of $54.57 million during the same quarter last year, which suggests a positive year over year growth rate of 8.4%. The business is expected to report its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Inogen will report full year sales of $59.17 million for the current year, with estimates ranging from $237.50 million to $240.20 million. For the next fiscal year, analysts forecast that the business will report sales of $280.08 million per share, with estimates ranging from $277.21 million to $283.88 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Inogen.
Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. Inogen had a net margin of 9.32% and a return on equity of 11.67%. The company had revenue of $52.50 million for the quarter, compared to analyst estimates of $49.06 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year.
INGN has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of Inogen from $78.00 to $83.00 and gave the company a “strong-buy” rating in a research note on Wednesday, March 1st. Stifel Nicolaus boosted their price objective on shares of Inogen to $65.00 in a research note on Wednesday, March 1st. J P Morgan Chase & Co set a $78.00 price objective on shares of Inogen and gave the stock a “buy” rating in a research note on Wednesday, March 1st. Zacks Investment Research upgraded shares of Inogen from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Thursday, March 2nd. Finally, TheStreet upgraded shares of Inogen from a “c” rating to a “b-” rating in a research note on Tuesday, February 28th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. Inogen presently has an average rating of “Buy” and a consensus target price of $91.60.
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Shares of Inogen (INGN) traded up 2.0696% on Wednesday, reaching $93.6999. 52,843 shares of the company’s stock traded hands. Inogen has a 52 week low of $44.26 and a 52 week high of $95.43. The company has a 50 day moving average price of $87.37 and a 200 day moving average price of $74.82. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 83.8103 and a beta of 1.04.
In other news, insider Scott Wilkinson sold 23,437 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $88.06, for a total value of $2,063,862.22. Following the completion of the sale, the insider now directly owns 54,088 shares in the company, valued at $4,762,989.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Scribner sold 2,500 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $75.28, for a total transaction of $188,200.00. Following the completion of the sale, the executive vice president now owns 4,064 shares of the company’s stock, valued at $305,937.92. The disclosure for this sale can be found here. Insiders sold 83,848 shares of company stock valued at $7,283,201 over the last 90 days. 5.31% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in INGN. Ameritas Investment Partners Inc. bought a new position in Inogen during the first quarter valued at approximately $109,000. Victory Capital Management Inc. boosted its position 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 buying an additional 459 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Inogen by 4.1% in the first quarter. State of Alaska Department of Revenue now owns 1,790 shares of the medical technology company’s stock valued at $138,000 after buying an additional 70 shares during the last quarter. Jane Street Group LLC bought a new position in Inogen during the first quarter valued at approximately $203,000. Finally, BNP Paribas Arbitrage SA boosted its position in Inogen by 13.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,091 shares of the medical technology company’s stock valued at $240,000 after buying an additional 370 shares during 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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