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Inogen Inc.

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Inogen reported a solid fourth-quarter of 2016 beating the Zacks Consensus Estimate on both counts. Over the last three months the company outperformed the broader industry in terms of price performance. Inogen has provided a positive guidance for full-year 2017. The company’s unique direct-to-customer business model, an innovative product line and growing patient base are the key catalysts in our view. New products like the Inogen One G4 and the upgraded Inogen One G3 are expected to drive growth over the long haul. Furthermore, the growing adoption of portable oxygen containers (POCs) among traditional home medical equipment (HME) providers will significantly boost unit sales volume going ahead. However, rental revenue headwinds remain a concern, thanks to private insurance rate reductions, higher provisions for rental revenue adjustments, and lower net patient additions.


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