Inogen (INGN) Expected to Post Quarterly Sales of $62.60 Million

Wall Street brokerages expect Inogen (NASDAQ:INGN) to post sales of $62.60 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Inogen’s earnings, with estimates ranging from $60.89 million to $64.80 million. Inogen posted sales of $52.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.2%. The company is scheduled to report its next earnings report after the market closes on Tuesday, May 8th.

According to Zacks, analysts expect that Inogen will report full-year sales of $303.29 million for the current financial year, with estimates ranging from $303.00 million to $303.58 million. For the next fiscal year, analysts anticipate that the firm will report sales of $358.58 million per share, with estimates ranging from $350.54 million to $363.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Inogen.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, February 27th. The medical technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. Inogen had a return on equity of 13.47% and a net margin of 8.42%. The company had revenue of $63.79 million during the quarter, compared to analyst estimates of $62.01 million.

A number of research analysts recently weighed in on INGN shares. Zacks Investment Research raised Inogen from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Tuesday, January 9th. BidaskClub raised Inogen from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Inogen in a research report on Tuesday, March 27th. ValuEngine raised Inogen from a “hold” rating to a “buy” rating in a research report on Friday, April 6th. Finally, Piper Jaffray set a $145.00 price objective on Inogen and gave the company a “buy” rating in a research report on Saturday, April 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.17.

In other Inogen news, Director Ray Benjamin M. Anderson sold 1,000 shares of Inogen stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $139.82, for a total value of $139,820.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $139,820. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matt Scribner sold 2,500 shares of Inogen stock in a transaction on Monday, April 16th. The stock was sold at an average price of $139.79, for a total value of $349,475.00. Following the completion of the sale, the executive vice president now directly owns 8,374 shares of the company’s stock, valued at approximately $1,170,601.46. The disclosure for this sale can be found here. In the last three months, insiders sold 115,718 shares of company stock valued at $14,059,611. Corporate insiders own 5.29% of the company’s stock.

Several institutional investors have recently bought and sold shares of INGN. Lenox Wealth Advisors Inc. bought a new stake in shares of Inogen in the 4th quarter worth $100,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Inogen by 1,000.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,100 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 1,000 shares during the period. Simplex Trading LLC bought a new stake in shares of Inogen in the fourth quarter worth $153,000. LS Investment Advisors LLC grew its holdings in shares of Inogen by 138.6% in the fourth quarter. LS Investment Advisors LLC now owns 1,515 shares of the medical technology company’s stock worth $180,000 after acquiring an additional 880 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of Inogen in the fourth quarter worth $208,000. 98.97% of the stock is owned by institutional investors and hedge funds.

INGN stock traded down $0.15 on Tuesday, reaching $141.08. 65,575 shares of the company traded hands, compared to its average volume of 138,444. Inogen has a one year low of $78.30 and a one year high of $144.05. The firm has a market cap of $2,992.87, a PE ratio of 107.69, a price-to-earnings-growth ratio of 3.93 and a beta of 1.03.

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About Inogen

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. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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