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Inogen Hits 52-Week High on Solid Q2 & Estimate Revision
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Share price of Inogen Inc (INGN - Free Report) rallied to a new 52-week high of $59 on Aug 30, eventually closing a tad bit lower at $58.46. This represents an impressive one-year return of approximately 18.7%, better than the S&P 500’s 13.7% over the same period.
Currently, Inogen carries a Zacks Rank #3 (Hold) and has a market cap of $1.17 billion.
Catalysts
Inogen reported a better-than-expected second quarter of 2016 with revenues and adjusted earnings both ahead of the respective zacks Consensus Estimate. Even on a year-over-year basis, the company registered stupendous 24% bottom line growth on 40.7% surge in revenues.
Several recent developments and initiatives at Inogen were the key growth drivers of this stellar second-quarter performance. Among these, noteworthy is the company receiving a nod from the Department of transportation and the Federal Aviation Administration for the onboard usage of One G4, an ‘ultra-portable’, small and light weight (2.8 pounds) oxygen concentrator.
Moreover, One G4 is set to be launched in the company’s domestic business-to-business channel in a phased approach. Additionally, management expects One G4 to tap into significant opportunities in both the domestic and international business-to-business channels over the long haul.
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 rose by 3 cents to 62 cents over the last 30 days. Similarly, for fiscal 2017, estimates have increased by a penny to 75 cents over the same time frame.
Key Picks
Better-ranked stocks in the broader medical sector are Natus Medical Inc , Masimo Corporation (MASI - Free Report) and NuVasive Inc . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
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Inogen Hits 52-Week High on Solid Q2 & Estimate Revision
Share price of Inogen Inc (INGN - Free Report) rallied to a new 52-week high of $59 on Aug 30, eventually closing a tad bit lower at $58.46. This represents an impressive one-year return of approximately 18.7%, better than the S&P 500’s 13.7% over the same period.
Currently, Inogen carries a Zacks Rank #3 (Hold) and has a market cap of $1.17 billion.
Catalysts
Inogen reported a better-than-expected second quarter of 2016 with revenues and adjusted earnings both ahead of the respective zacks Consensus Estimate. Even on a year-over-year basis, the company registered stupendous 24% bottom line growth on 40.7% surge in revenues.
Several recent developments and initiatives at Inogen were the key growth drivers of this stellar second-quarter performance. Among these, noteworthy is the company receiving a nod from the Department of transportation and the Federal Aviation Administration for the onboard usage of One G4, an ‘ultra-portable’, small and light weight (2.8 pounds) oxygen concentrator.
INOGEN INC Price and Consensus
INOGEN INC Price and Consensus | INOGEN INC Quote
Moreover, One G4 is set to be launched in the company’s domestic business-to-business channel in a phased approach. Additionally, management expects One G4 to tap into significant opportunities in both the domestic and international business-to-business channels over the long haul.
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 rose by 3 cents to 62 cents over the last 30 days. Similarly, for fiscal 2017, estimates have increased by a penny to 75 cents over the same time frame.
Key Picks
Better-ranked stocks in the broader medical sector are Natus Medical Inc , Masimo Corporation (MASI - Free Report) and NuVasive Inc . Notably, all the three stocks sport a Zacks Rank #1 (Strong Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>