Inogen, Inc. (INGN - Free Report) recently announced preliminary revenues for the fourth quarter and full-year 2022. The preliminary results drove down the shares of the company by 1.9% in the after-hours trading session.
Inogen is scheduled to release fourth-quarter results on Feb 23 after the closing bell.
Per the preliminary report, fourth-quarter 2022 revenues are estimated to be within $87.5 million to $88.5 million, reflecting an increase of 14.5-15.8% year over year on a reported basis. The Zacks Consensus Estimate of $87.9 million lies within the preliminary figure.
This compares to our projection of fourth-quarter revenues of $87.2 million, representing an uptick of 14.1%.
Per management, the to-be-reported quarter’s results are within the company’s previously-projected fourth-quarter guidance range of $87 million to $92 million. Management is upbeat about its ability to register revenues within its earlier expectations despite the prevailing macroeconomic pressures and headwinds resulting from Inogen’s efforts to continue upgrading the operating disciplines in its direct-to-consumer (DTC) commercial team.
Management is also optimistic about improving its productivity in the near term as the tenure of its DTC team increases, and it continues partnering with its business-to-business (B2B) channel to manage economic pressures. This raises our optimism about the stock.
Full-Year Prelim Results
Per Inogen, its full-year total revenues are likely to be within $376.7 million to $377.7 million, reflecting an increase of 5.2-5.5% over comparable 2021 reported figures. The Zacks Consensus Estimate of $377.1 million lies within the preliminary figure.
This compares to our projection of full-year revenues of $376.4 million, representing an increase of 5.1%.
A Brief Q4 Analysis
In the last-reported quarter, Inogen registered a solid uptick in its overall revenues. This was primarily driven by higher domestic B2B sales and continued strength in the rental channel. During the last-reported quarter’s earnings call in November 2022, management also confirmed that its revenue increased by more than 25% in the first nine months of 2022 compared to the same period in 2021 for its rental business. The company has also continued to refine its coverage and targeting strategies to add new target prescribers. This trend is likely to have continued in the fourth quarter.
However, the company’s headwinds resulting from Inogen’s efforts to continue upgrading the operating disciplines in its DTC commercial team and prevailing macroeconomic pressures raise our apprehensions about the stock.
Price Performance
Shares of the company have lost 18.8% between Oct 1, 2022 and Dec 31, 2022 against the industry’s 14.1% rise and the S&P 500’s 6.3% growth.
Zacks Rank & Key Picks
Currently, Inogen carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 2.9% against the industry’s 4.9% rise between Oct 1, 2022 and Dec 31, 2022.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.7%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3%.
Cardinal Health has gained 15.3% compared with the industry’s 12.5% rise between Oct 1, 2022 and Dec 31, 2022.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 24.9% compared with the industry’s 12.5% rise between Oct 1, 2022 and Dec 31, 2022.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Inogen, Inc. (INGN - Free Report) recently announced preliminary revenues for the fourth quarter and full-year 2022. The preliminary results drove down the shares of the company by 1.9% in the after-hours trading session.
Inogen is scheduled to release fourth-quarter results on Feb 23 after the closing bell.
Per the preliminary report, fourth-quarter 2022 revenues are estimated to be within $87.5 million to $88.5 million, reflecting an increase of 14.5-15.8% year over year on a reported basis. The Zacks Consensus Estimate of $87.9 million lies within the preliminary figure.
This compares to our projection of fourth-quarter revenues of $87.2 million, representing an uptick of 14.1%.
Per management, the to-be-reported quarter’s results are within the company’s previously-projected fourth-quarter guidance range of $87 million to $92 million. Management is upbeat about its ability to register revenues within its earlier expectations despite the prevailing macroeconomic pressures and headwinds resulting from Inogen’s efforts to continue upgrading the operating disciplines in its direct-to-consumer (DTC) commercial team.
Management is also optimistic about improving its productivity in the near term as the tenure of its DTC team increases, and it continues partnering with its business-to-business (B2B) channel to manage economic pressures. This raises our optimism about the stock.
Full-Year Prelim Results
Per Inogen, its full-year total revenues are likely to be within $376.7 million to $377.7 million, reflecting an increase of 5.2-5.5% over comparable 2021 reported figures. The Zacks Consensus Estimate of $377.1 million lies within the preliminary figure.
This compares to our projection of full-year revenues of $376.4 million, representing an increase of 5.1%.
A Brief Q4 Analysis
In the last-reported quarter, Inogen registered a solid uptick in its overall revenues. This was primarily driven by higher domestic B2B sales and continued strength in the rental channel. During the last-reported quarter’s earnings call in November 2022, management also confirmed that its revenue increased by more than 25% in the first nine months of 2022 compared to the same period in 2021 for its rental business. The company has also continued to refine its coverage and targeting strategies to add new target prescribers. This trend is likely to have continued in the fourth quarter.
However, the company’s headwinds resulting from Inogen’s efforts to continue upgrading the operating disciplines in its DTC commercial team and prevailing macroeconomic pressures raise our apprehensions about the stock.
Price Performance
Shares of the company have lost 18.8% between Oct 1, 2022 and Dec 31, 2022 against the industry’s 14.1% rise and the S&P 500’s 6.3% growth.
Zacks Rank & Key Picks
Currently, Inogen carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 2.9% against the industry’s 4.9% rise between Oct 1, 2022 and Dec 31, 2022.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.7%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3%.
Cardinal Health has gained 15.3% compared with the industry’s 12.5% rise between Oct 1, 2022 and Dec 31, 2022.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 24.9% compared with the industry’s 12.5% rise between Oct 1, 2022 and Dec 31, 2022.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Get the latest research report on CAH - FREE
Get the latest research report on MMSI - FREE
Get the latest research report on AMN - FREE
Get the latest research report on INGN - FREE