Inogen, Inc. (NASDAQ:INGN) Expected to Post Quarterly Sales of $87.37 Million

Brokerages expect that Inogen, Inc. (NASDAQ:INGN) will report sales of $87.37 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Inogen’s earnings, with the highest sales estimate coming in at $93.10 million and the lowest estimate coming in at $82.40 million. Inogen reported sales of $74.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that Inogen will report full-year sales of $359.17 million for the current year, with estimates ranging from $353.60 million to $365.10 million. For the next fiscal year, analysts expect that the company will report sales of $387.39 million, with estimates ranging from $371.80 million to $398.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Inogen.

Inogen (NASDAQ:INGN) last posted its quarterly earnings results on Wednesday, August 4th. The medical technology company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.33. The firm had revenue of $101.56 million for the quarter, compared to analyst estimates of $88.75 million. Inogen had a negative return on equity of 0.69% and a negative net margin of 0.73%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS.

INGN has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research note on Sunday, August 8th. William Blair raised shares of Inogen from a “market perform” rating to an “outperform” rating in a report on Friday, June 4th. SVB Leerink reiterated a “market perform” rating on shares of Inogen in a research report on Tuesday, July 20th. Finally, TheStreet upgraded Inogen from a “d+” rating to a “c-” rating in a report on Thursday, July 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.67.

In related news, Director Raymond Huggenberger sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $65.83, for a total transaction of $460,810.00. Following the completion of the sale, the director now directly owns 24,583 shares of the company’s stock, valued at approximately $1,618,298.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alison Bauerlein sold 9,632 shares of the company’s stock in a transaction on Tuesday, July 27th. The stock was sold at an average price of $75.02, for a total value of $722,592.64. Following the sale, the chief financial officer now owns 13,411 shares of the company’s stock, valued at $1,006,093.22. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock worth $2,963,693 in the last 90 days. 4.29% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in Inogen by 4.4% during the first quarter. BlackRock Inc. now owns 3,238,330 shares of the medical technology company’s stock valued at $170,077,000 after buying an additional 135,428 shares during the period. Vanguard Group Inc. increased its holdings in shares of Inogen by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,351,418 shares of the medical technology company’s stock valued at $153,242,000 after acquiring an additional 101,579 shares during the last quarter. State Street Corp boosted its stake in Inogen by 5.1% during the 2nd quarter. State Street Corp now owns 787,798 shares of the medical technology company’s stock valued at $51,341,000 after purchasing an additional 38,368 shares during the period. Factorial Partners LLC lifted its position in shares of Inogen by 9,920.3% in the 1st quarter. Factorial Partners LLC now owns 761,540 shares of the medical technology company’s stock worth $14,500,000 after acquiring an additional 753,940 shares during the period. Finally, Bamco Inc. NY lifted its position in shares of Inogen by 51.9% in the 1st quarter. Bamco Inc. NY now owns 707,985 shares of the medical technology company’s stock worth $37,183,000 after acquiring an additional 241,754 shares during the period. Institutional investors own 91.68% of the company’s stock.

Shares of INGN stock traded up $0.94 during trading on Friday, reaching $49.45. 941 shares of the company’s stock were exchanged, compared to its average volume of 166,828. The stock has a market capitalization of $1.12 billion, a PE ratio of -404.22 and a beta of 0.90. Inogen has a twelve month low of $26.90 and a twelve month high of $82.35. The firm’s fifty day moving average price is $64.84 and its 200-day moving average price is $61.62.

About Inogen

Inogen, Inc engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its products consists of Inogen One G4 system, Inogen One G3 system, Inogen One G5 system, Inogen TAV, and Inogen at Home.

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