Zacks: Brokerages Anticipate Inogen Inc (INGN) Will Announce Quarterly Sales of $91.08 Million

Analysts expect Inogen Inc (NASDAQ:INGN) to announce $91.08 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Inogen’s earnings. The lowest sales estimate is $88.30 million and the highest is $92.37 million. Inogen reported sales of $69.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.9%. The company is expected to issue its next earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that Inogen will report full year sales of $349.63 million for the current financial year, with estimates ranging from $347.90 million to $350.97 million. For the next financial year, analysts expect that the business will post sales of $428.86 million, with estimates ranging from $419.20 million to $435.96 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Inogen.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, August 7th. The medical technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.21. The company had revenue of $97.24 million during the quarter, compared to the consensus estimate of $81.61 million. Inogen had a return on equity of 16.51% and a net margin of 10.39%.

Several brokerages recently weighed in on INGN. BidaskClub downgraded Inogen from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Jaffray Companies lifted their target price on Inogen to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, August 7th. Zacks Investment Research downgraded Inogen from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Needham & Company LLC lifted their target price on Inogen from $215.00 to $254.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus set a $258.00 target price on Inogen and gave the company a “buy” rating in a research report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $247.33.

In related news, insider Matt Scribner sold 2,000 shares of Inogen stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $281.23, for a total transaction of $562,460.00. Following the completion of the transaction, the insider now owns 7,595 shares in the company, valued at $2,135,941.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond Huggenberger sold 10,500 shares of Inogen stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $196.62, for a total value of $2,064,510.00. Following the transaction, the director now owns 8,797 shares of the company’s stock, valued at approximately $1,729,666.14. The disclosure for this sale can be found here. Insiders have sold 72,953 shares of company stock valued at $17,231,375 in the last quarter. 5.29% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of INGN. JPMorgan Chase & Co. raised its position in shares of Inogen by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 58,331 shares of the medical technology company’s stock valued at $7,166,000 after buying an additional 5,229 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Inogen by 10.5% during the first quarter. Sei Investments Co. now owns 3,073 shares of the medical technology company’s stock worth $377,000 after acquiring an additional 293 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Inogen during the first quarter worth approximately $601,000. Cubist Systematic Strategies LLC bought a new stake in shares of Inogen during the first quarter worth approximately $486,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Inogen during the first quarter worth approximately $217,000. Institutional investors own 96.65% of the company’s stock.

Shares of INGN traded up $6.09 during trading hours on Wednesday, hitting $197.25. 92,471 shares of the company were exchanged, compared to its average volume of 380,575. The company has a market cap of $4.00 billion, a PE ratio of 150.57, a price-to-earnings-growth ratio of 3.66 and a beta of 1.25. Inogen has a 52 week low of $96.82 and a 52 week high of $287.79.

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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