Inogen Gets a Buy Rating from Needham

By Jason Carr

Needham analyst Michael Matson reiterated a Buy rating on Inogen (NASDAQ: INGN) today and set a price target of $108. The company’s shares closed yesterday at $91.11, close to its 52-week high of $92.08.

Matson observed:

“We hosted INGN’s CEO, Scott Wilkinson, and CFO, Ali Bauerlein, for investor meetings. Highlights include: HME POC trialing is driving strong B2B growth; competitive POCs remain a generation or more behind INGN’s; international markets are large and should provide many years of growth; and INGN should see gradual operating margin expansion.”

According to, Matson is a top 100 analyst with an average return of 14.0% and a 69.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Inogen has an analyst consensus of Moderate Buy, with a price target consensus of $86.50.

Inogen’s market cap is currently $1.87B and has a P/E ratio of 97.97. The company has a book value ratio of 9.7167.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Last month, Heath Lukatch, a Director at INGN sold 9,000 shares for a total of $796,584.

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Inogen, Inc. operates as a medical technology company. It develops, manufactures and markets innovative portable oxygen concentrators which are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The company was founded by Alison Perry, Alison Bauerlein, Brenton Taylor and Byron Myers on November 27, 2001 and is headquartered in Goleta, CA.