Inogen (NASDAQ:INGN) Issues Earnings Results, Beats Expectations By $0.31 EPS

Inogen (NASDAQ:INGN) issued its earnings results on Tuesday. The medical technology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.31, Briefing.com reports. Inogen had a negative net margin of 30.07% and a negative return on equity of 42.87%. The company had revenue of $88.77 million for the quarter, compared to analysts’ expectations of $82.50 million. During the same period in the prior year, the business earned ($0.42) EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Inogen updated its FY 2024 guidance to EPS.

Inogen Stock Up 5.6 %

Shares of INGN traded up $0.65 during trading hours on Friday, reaching $12.32. 433,955 shares of the company traded hands, compared to its average volume of 397,752. The business has a fifty day moving average price of $8.63 and a 200-day moving average price of $7.93. Inogen has a 12-month low of $4.13 and a 12-month high of $12.39. The stock has a market capitalization of $290.47 million, a P/E ratio of -2.97 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several analysts have commented on INGN shares. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a research report on Wednesday. Stifel Nicolaus upped their price target on Inogen from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, StockNews.com cut Inogen from a “hold” rating to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.00.

About Inogen

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.