Equities analysts forecast that Inogen, Inc (NASDAQ:INGN) will announce $60.29 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Inogen’s earnings. The highest sales estimate is $60.61 million and the lowest is $59.97 million. Inogen posted sales of $54.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Inogen will report full-year sales of $60.29 million for the current fiscal year, with estimates ranging from $237.50 million to $240.20 million. For the next financial year, analysts anticipate that the company will post sales of $280.36 million per share, with estimates ranging from $277.21 million to $283.88 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Inogen.
Inogen (NASDAQ:INGN) last announced its earnings results on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. Inogen had a return on equity of 11.67% and a net margin of 9.32%. The firm had revenue of $52.50 million for the quarter, compared to analyst estimates of $49.06 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue was up 22.1% on a year-over-year basis.
A number of brokerages recently weighed in on INGN. Needham & Company LLC upped their price objective on Inogen from $96.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Friday, June 9th. Zacks Investment Research lowered Inogen from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co upped their price objective on Inogen to $102.00 and gave the stock an “overweight” rating in a report on Monday, June 26th. Stifel Nicolaus upped their price objective on Inogen from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Finally, Sidoti began coverage on Inogen in a report on Tuesday, April 18th. They set a “neutral” rating and a $79.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Inogen presently has a consensus rating of “Buy” and a consensus price target of $91.60.
In other Inogen news, EVP Matt Scribner sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $94.21, for a total value of $235,525.00. Following the sale, the executive vice president now owns 4,833 shares of the company’s stock, valued at $455,316.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Benjamin M. Anderson sold 4,445 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $81.05, for a total value of $360,267.25. Following the completion of the sale, the director now directly owns 4,445 shares in the company, valued at approximately $360,267.25. The disclosure for this sale can be found here. Insiders sold 87,848 shares of company stock worth $7,831,966 in the last three months. 5.31% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Inogen by 145,976.1% in the first quarter. BlackRock Inc. now owns 2,110,800 shares of the medical technology company’s stock valued at $163,711,000 after buying an additional 2,109,355 shares during the period. Norges Bank purchased a new stake in Inogen during the fourth quarter valued at $18,813,000. Russell Investments Group Ltd. raised its stake in Inogen by 166.2% in the second quarter. Russell Investments Group Ltd. now owns 196,886 shares of the medical technology company’s stock valued at $18,786,000 after buying an additional 122,913 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Inogen during the first quarter valued at $9,139,000. Finally, Marshall Wace North America L.P. purchased a new stake in Inogen during the first quarter valued at $9,139,000.
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Shares of Inogen (INGN) traded up 0.50% on Friday, hitting $96.44. The stock had a trading volume of 95,420 shares. Inogen has a 12 month low of $50.09 and a 12 month high of $97.71. The stock has a market cap of $1.98 billion, a P/E ratio of 86.26 and a beta of 1.04. The firm has a 50 day moving average of $93.80 and a 200 day moving average of $79.61.
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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