Inogen (NASDAQ:INGN) Announces Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Inogen (NASDAQ:INGN) posted its earnings results on Tuesday. The medical technology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.21, FiscalAI reports. The business had revenue of $81.72 million during the quarter, compared to the consensus estimate of $82.00 million. Inogen had a negative return on equity of 13.21% and a negative net margin of 7.31%.

Inogen Stock Up 2.8%

INGN stock traded up $0.16 on Tuesday, reaching $5.84. 969,492 shares of the company’s stock were exchanged, compared to its average volume of 244,156. The stock has a fifty day moving average of $6.28 and a 200-day moving average of $7.27. Inogen has a twelve month low of $5.48 and a twelve month high of $11.94. The firm has a market cap of $158.56 million, a PE ratio of -5.78 and a beta of 1.79.

Hedge Funds Weigh In On Inogen

A number of large investors have recently made changes to their positions in INGN. Alliancebernstein L.P. boosted its holdings in Inogen by 3.9% during the third quarter. Alliancebernstein L.P. now owns 51,120 shares of the medical technology company’s stock worth $418,000 after buying an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Inogen by 14.6% during the 4th quarter. Russell Investments Group Ltd. now owns 19,543 shares of the medical technology company’s stock valued at $131,000 after acquiring an additional 2,487 shares during the period. Rhumbline Advisers grew its holdings in shares of Inogen by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 2,561 shares during the period. American Century Companies Inc. grew its holdings in shares of Inogen by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 61,238 shares of the medical technology company’s stock worth $431,000 after acquiring an additional 2,858 shares during the period. Finally, Barclays PLC raised its holdings in Inogen by 4.5% during the fourth quarter. Barclays PLC now owns 81,980 shares of the medical technology company’s stock worth $551,000 after purchasing an additional 3,515 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inogen in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inogen presently has a consensus rating of “Hold” and an average target price of $11.00.

About Inogen

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.