In a report released today, Michael Matson from Needham downgraded Inogen (INGN) to Hold. The company’s shares closed last Wednesday at $34.97, close to its 52-week low of $31.21.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.9% and a 60.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Inogen with a $42.00 average price target.
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Based on Inogen’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $88.49 million and GAAP net loss of $1.59 million. In comparison, last year the company earned revenue of $90.2 million and had a net profit of $5.3 million.
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Inogen, Inc . 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 consists of Inogen One G4 system, Inogen One G3 system, Inogen One G2 system, and Inogen at Home. The company was founded by Alison Perry, Alison Bauerlein, Brenton Taylor and Byron Myers on November 27, 2001 and is headquartered in Goleta, CA.
