Inogen (NASDAQ:INGN) Issues Earnings Results, Beats Expectations By $0.24 EPS

Inogen (NASDAQ:INGNGet Rating) issued its quarterly earnings results on Thursday. The medical technology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.24, Briefing.com reports. The business had revenue of $103.38 million during the quarter, compared to the consensus estimate of $100.64 million. Inogen had a negative return on equity of 5.29% and a negative net margin of 8.03%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Inogen updated its Q3 2022 guidance to EPS.

Inogen Stock Down 3.2 %

Shares of NASDAQ:INGN traded down $0.93 during trading on Friday, hitting $27.71. The stock had a trading volume of 193,136 shares, compared to its average volume of 143,086. Inogen has a 12-month low of $22.51 and a 12-month high of $65.83. The stock has a market capitalization of $632.90 million, a price-to-earnings ratio of -22.17 and a beta of 1.02. The stock has a 50-day simple moving average of $26.32 and a two-hundred day simple moving average of $28.43.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INGN. Captrust Financial Advisors boosted its stake in Inogen by 124.7% during the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock worth $32,000 after buying an additional 551 shares during the last quarter. US Bancorp DE boosted its stake in Inogen by 273.0% during the first quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock worth $28,000 after buying an additional 647 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Inogen by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 181,133 shares of the medical technology company’s stock worth $5,871,000 after buying an additional 1,836 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Inogen by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,631 shares of the medical technology company’s stock worth $572,000 after buying an additional 2,174 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Inogen by 4.7% during the first quarter. Rhumbline Advisers now owns 54,415 shares of the medical technology company’s stock worth $1,764,000 after buying an additional 2,421 shares during the last quarter. 96.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INGN. Stifel Nicolaus lowered their price target on Inogen from $40.00 to $30.00 in a report on Monday, May 9th. StockNews.com raised Inogen from a “sell” rating to a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Inogen presently has an average rating of “Hold” and a consensus target price of $41.00.

About Inogen

(Get Rating)

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

Further Reading

Earnings History for Inogen (NASDAQ:INGN)

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