Recent Analysts’ Ratings Updates for Inogen (INGN)

Several brokerages have updated their recommendations and price targets on shares of Inogen (NASDAQ: INGN) in the last few weeks:

  • 3/6/2019 – Inogen was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 2/28/2019 – Inogen was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 2/27/2019 – Inogen had its “strong-buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $191.00 price target on the stock, down previously from $280.00. They wrote, “INGN beat consensus revenue and EPS in 4Q18 and management maintained its 2019 guidance for revenue and adjusted EBITDA. The revenue upside was driven by the DTC sales force expansion and was partially offset by slower domestic B2B sales as a single large customer slowed its orders. Gross margin was up Y/Y and beat our estimate while operating margin was down Y/Y and beat our estimate. INGN continues to see the benefit of its DTC sales force expansion as DTC sales grew 50% in 4Q18. We expect the ongoing sales force expansion, new product cycle, and the market shift to POCs to sustain strong growth and drive upside to consensus and we reiterate our Strong Buy rating.””
  • 2/27/2019 – Inogen had its price target lowered by analysts at JPMorgan Chase & Co. to $175.00. They now have an “overweight” rating on the stock.
  • 2/27/2019 – Inogen had its price target lowered by analysts at Piper Jaffray Companies from $290.00 to $185.00. They now have an “overweight” rating on the stock.
  • 2/14/2019 – Inogen was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Inogen outperformed the industry in a year’s time. The company continues to gain from its strong portfolio of portable oxygen concentrators (POC) which has been lending it a competitive edge in the MedTech space. Solid business-to-business revenues also buoy optimism. These apart, the company’s direct-to-consumer unit performed exceedingly well in recent times. Moreover, management remains optimistic about its international revenues, which saw solid growth in Europe in recent times. The raised revenue guidance for 2018 is also an added positive. Inogen issued a bullish guidance for 2019 as well. On the flip side, Inogen’s rental revenues declined on a year-over-year basis in recent times. In fact, the company expects rental revenues to remain down in 2018 and grow modestly in 2019. Rising operating expenses are discouraging as well. In the LTOT market, POC adoption continues to face significant headwinds.”
  • 2/13/2019 – Inogen was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $155.00 price target on the stock. According to Zacks, “Inogen outperformed the industry in a year’s time. The company continues to gain from its strong portfolio of portable oxygen concentrators (POC) which has been lending it a competitive edge in the MedTech space. Solid business-to-business revenues also buoy optimism. These apart, the company’s direct-to-consumer unit performed exceedingly well in recent times. Moreover, management remains optimistic about its international revenues, which saw solid growth in Europe in recent times. The raised revenue guidance for 2018 is also an added positive. Inogen issued a bullish guidance for 2019 as well. On the flip side, Inogen’s rental revenues declined on a year-over-year basis in recent times. In fact, the company expects rental revenues to remain down in 2018 and grow modestly in 2019. Rising operating expenses are discouraging as well. In the LTOT market, POC adoption continues to face significant headwinds.”
  • 2/7/2019 – Inogen was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Inogen outperformed the industry in a year’s time. The company continues to gain from its strong portfolio of portable oxygen concentrators (POC) which has been lending it a competitive edge in the MedTech space. Solid business-to-business revenues also buoy optimism. These apart, the company’s direct-to-consumer unit performed exceedingly well in recent times. Moreover, management remains optimistic about its international revenues, which saw solid growth in Europe in recent times. The raised revenue guidance for 2018 is also an added positive. Inogen issued a bullish guidance for 2019 as well. On the flip side, Inogen’s rental revenues declined on a year-over-year basis in recent times. In fact, the company expects rental revenues to remain down in 2018 and grow modestly in 2019. Rising operating expenses are discouraging as well. In the LTOT market, POC adoption continues to face significant headwinds.”
  • 2/5/2019 – Inogen was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $169.00 price target on the stock. According to Zacks, “Inogen outperformed the industry in a year’s time. The company continues to gain from its strong portfolio of portable oxygen concentrators (POC) which has been lending it a competitive edge in the MedTech space. Solid business-to-business revenues also buoy optimism. These apart, the company’s direct-to-consumer unit performed exceedingly well in recent times. Moreover, management remains optimistic about its international revenues, which saw solid growth in Europe in recent times. The raised revenue guidance for 2018 is also an added positive. Inogen issued a bullish guidance for 2019 as well. On the flip side, Inogen’s rental revenues declined on a year-over-year basis in recent times. In fact, the company expects rental revenues to remain down in 2018 and grow modestly in 2019. Rising operating expenses are discouraging as well. In the LTOT market, POC adoption continues to face significant headwinds.”

NASDAQ:INGN opened at $96.38 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 3.17 and a beta of 1.51. Inogen Inc has a 12-month low of $91.90 and a 12-month high of $287.79.

Inogen (NASDAQ:INGN) last released its quarterly earnings data on Tuesday, February 26th. The medical technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. The firm had revenue of $86.50 million for the quarter, compared to analyst estimates of $82.06 million. Inogen had a return on equity of 18.60% and a net margin of 14.48%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, equities research analysts forecast that Inogen Inc will post 1.95 EPS for the current fiscal year.

In other Inogen news, Director Raymond Huggenberger sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $136.81, for a total value of $1,162,885.00. Following the sale, the director now owns 11,297 shares in the company, valued at $1,545,542.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.29% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Inogen by 4.4% during the fourth quarter. BlackRock Inc. now owns 2,233,303 shares of the medical technology company’s stock worth $277,307,000 after purchasing an additional 93,873 shares during the period. Norges Bank bought a new position in shares of Inogen during the fourth quarter worth approximately $48,104,000. Alliancebernstein L.P. increased its stake in shares of Inogen by 43.3% during the third quarter. Alliancebernstein L.P. now owns 373,794 shares of the medical technology company’s stock worth $91,251,000 after purchasing an additional 113,024 shares during the period. Renaissance Technologies LLC increased its stake in shares of Inogen by 18.7% during the third quarter. Renaissance Technologies LLC now owns 367,900 shares of the medical technology company’s stock worth $89,812,000 after purchasing an additional 58,086 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Inogen by 18.6% during the fourth quarter. Northern Trust Corp now owns 293,842 shares of the medical technology company’s stock worth $36,487,000 after purchasing an additional 46,036 shares during the period. Institutional investors own 98.63% of the company’s stock.

Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for 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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