Inogen, Inc. (NASDAQ:INGN – Get Rating) – Stock analysts at Zacks Research reduced their Q1 2023 earnings estimates for Inogen in a research report issued on Tuesday, March 14th. Zacks Research analyst D. Dey now forecasts that the medical technology company will post earnings of ($0.60) per share for the quarter, down from their prior forecast of ($0.17). The consensus estimate for Inogen’s current full-year earnings is ($1.78) per share. Zacks Research also issued estimates for Inogen’s Q2 2023 earnings at ($0.45) EPS, Q3 2023 earnings at ($0.46) EPS, Q4 2023 earnings at ($0.24) EPS, FY2023 earnings at ($1.75) EPS, Q1 2024 earnings at ($0.55) EPS, Q2 2024 earnings at ($0.36) EPS, Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($1.32) EPS and FY2025 earnings at ($0.96) EPS.
Inogen (NASDAQ:INGN – Get Rating) last posted its earnings results on Thursday, February 23rd. The medical technology company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.03. The company had revenue of $88.09 million during the quarter, compared to the consensus estimate of $89.70 million. Inogen had a negative net margin of 22.21% and a negative return on equity of 8.72%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.01) earnings per share.
Inogen Stock Performance
Shares of Inogen stock opened at $12.66 on Friday. The firm has a 50-day simple moving average of $20.49 and a two-hundred day simple moving average of $21.94. The company has a market cap of $290.80 million, a P/E ratio of -3.46 and a beta of 1.05. Inogen has a fifty-two week low of $12.58 and a fifty-two week high of $35.67.
Hedge Funds Weigh In On Inogen
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its stake in shares of Inogen by 104.3% in the 3rd quarter. Fred Alger Management LLC now owns 1,084,244 shares of the medical technology company’s stock valued at $26,326,000 after purchasing an additional 553,626 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Inogen by 9.2% in the 3rd quarter. Yousif Capital Management LLC now owns 18,575 shares of the medical technology company’s stock valued at $451,000 after purchasing an additional 1,570 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Inogen by 10.9% in the 3rd quarter. Texas Permanent School Fund now owns 16,364 shares of the medical technology company’s stock valued at $397,000 after purchasing an additional 1,602 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Inogen in the 3rd quarter valued at $711,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Inogen by 12.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 7,581 shares of the medical technology company’s stock valued at $184,000 after purchasing an additional 838 shares during the last quarter. Institutional investors and hedge funds own 95.93% of the company’s stock.
Inogen Company Profile
Inogen, Inc is a medical technology company, which engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its products include Inogen One G4 system, Inogen One G3 system, Inogen One G5 system, Inogen TAV, and Inogen at Home.
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