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Inogen (INGN) Gets a Buy from Needham

In a report released today, Michael Matson from Needham maintained a Buy rating on Inogen (INGNResearch Report), with a price target of $36.00. The company’s shares opened today at $21.96.

According to TipRanks, Matson is an analyst with an average return of -0.9% and a 44.12% success rate. Matson covers the Healthcare sector, focusing on stocks such as Atricure, Medtronic, and NeoGenomics.

Currently, the analyst consensus on Inogen is a Moderate Buy with an average price target of $36.00.

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Based on Inogen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $103.38 million and a GAAP net loss of $3.44 million. In comparison, last year the company earned a revenue of $101.56 million and had a net profit of $5.1 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.

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