Inogen (NASDAQ:INGN) Posts Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Inogen (NASDAQ:INGN – Get Rating) issued its quarterly earnings data on Thursday. The medical technology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.24, Briefing.com reports. The firm had revenue of $103.38 million during the quarter, compared to analyst estimates of $100.64 million. Inogen had a negative return on equity of 3.83% and a negative net margin of 5.64%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. Inogen updated its Q3 2022 guidance to EPS.

Inogen Trading Down 3.2 %

Shares of INGN stock traded down $0.93 on Friday, reaching $27.71. 193,090 shares of the stock were exchanged, compared to its average volume of 184,513. The business’s 50 day moving average price is $26.28 and its 200 day moving average price is $28.45. The company has a market capitalization of $632.79 million, a price-to-earnings ratio of -31.49 and a beta of 1.02. Inogen has a twelve month low of $22.51 and a twelve month high of $65.83.

Wall Street Analyst Weigh In

INGN has been the topic of several analyst reports. StockNews.com downgraded Inogen from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Stifel Nicolaus dropped their target price on Inogen from $40.00 to $30.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $41.00.

Institutional Investors Weigh In On Inogen

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its holdings in shares of Inogen by 273.0% in the first quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock valued at $28,000 after buying an additional 647 shares during the last quarter. Captrust Financial Advisors raised its holdings in Inogen by 124.7% during the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 551 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in Inogen by 3,054.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,722 shares of the medical technology company’s stock worth $119,000 after purchasing an additional 3,604 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Inogen by 66.5% during the first quarter. MetLife Investment Management LLC now owns 11,211 shares of the medical technology company’s stock worth $363,000 after purchasing an additional 4,479 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Inogen by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,631 shares of the medical technology company’s stock worth $572,000 after purchasing an additional 2,174 shares in the last quarter. 96.01% of the stock is owned by hedge funds and other institutional investors.

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.