Needham analyst Mike Matson lowered the firm’s price target on Inogen to $26 from $36 but keeps a Buy rating on the shares after its Q4 results and guidance. The company’s B2B growth was driven by very strong domestic sales as Inogen caught up on its order backlog, while its DTC growth was hurt by a decline in sales due to changes in its inside sales force, the analyst tells investors in a research note. The firm adds that demand for Inogen’s portable oxygen concentrators appears to have recovered during 2021 despite several COVID infection waves, though the company has been unable to meet all the demand given supply issues.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on INGN:
- Inogen reports Q4 EPS ($2.47) vs ($1.01) last year
- Inogen downgraded to Market Perform from Outperform at William Blair
- Inogen achieves regulatory milestones to support portable oxygen products
- Inogen sees FY22 revenue $376.7M-$377.7M , consensus $378.6M
- Inogen sees Q4 revenue $87.5M-$88.5M, consensus $89.55M
