Inogen Inc (NASDAQ:INGN)’s share price was down 23.3% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $41.19 and last traded at $42.32, approximately 3,302,728 shares traded hands during mid-day trading. An increase of 468% from the average daily volume of 581,853 shares. The stock had previously closed at $55.18.
The medical technology company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.05). Inogen had a net margin of 12.56% and a return on equity of 15.59%. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $106.88 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year.
Several equities analysts have issued reports on INGN shares. Piper Jaffray Companies cut their price objective on Inogen from $140.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC cut Inogen from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised Inogen from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 27th. Stifel Nicolaus cut Inogen from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut Inogen from a “neutral” rating to an “underweight” rating and set a $72.00 target price for the company. in a research note on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $96.60.
The company has a debt-to-equity ratio of 0.02, a current ratio of 7.35 and a quick ratio of 6.70. The company has a 50 day simple moving average of $63.45. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.32 and a beta of 1.40.
About Inogen (NASDAQ:INGN)
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. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
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