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INGN

Inogen

$130.28

-2.94 (-2.21%)

16:22
02/27/18
02/27
16:22
02/27/18
16:22

Inogen raises FY18 revenue to $298M-$308M from $295M-$305M, consensus $302.08M

The Company expects direct-to-consumer sales to be its fastest growing channel, domestic business-to-business sales to have a solid growth rate, and international business-to-business sales to have a modest growth rate, where the strategy will continue to be heavily focused on the European markets. Inogen expects rental revenue to be relatively flat in 2018 compared to 2017 as the Company continues to focus on sales versus rentals. Further, the Company is also increasing its full year 2018 GAAP net income and non-GAAP net income guidance range to $36 to $39 million, up from $31 to $35 million, representing growth of 71.4% to 85.7% compared to 2017 GAAP net income of $21.0 million and growth of 26.0% to 36.5% compared to 2017 non-GAAP net income of $28.6 million. The Company estimates that the decrease in provision for income taxes related to excess tax benefits recognized from stock-based compensation will lead to a decrease in provision for income taxes of approximately $8.0 million in 2018 based on forecasted stock activity, which would lower its effective tax rate as compared to the U.S. statutory rate. Excluding the $8.0 million decrease in provision for income taxes expected in 2018, the Company expects an effective tax rate of approximately 25%, down from its previous estimate of 37% due to the TCJA. The Company expects its effective tax rate including stock compensation deductions to vary quarter-to-quarter depending on the amount of pre-tax net income and on the timing and size of stock option exercises. Inogen is maintaining its guidance range for full year 2018 Adjusted EBITDA of $60 to $64 million, representing 18.0% to 25.9% growth compared to 2017 results.

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INGN Inogen
$130.28

-2.94 (-2.21%)

11/08/17
NEED
11/08/17
NO CHANGE
Target $125
NEED
Strong Buy
Inogen price target raised to $125 from $108 at Needham
Needham analyst Mike Matson raised his price target on Inogen to $125 and kept his Strong Buy rating following Q3 EPS beat and a raise in FY17 revenue outlook. Matson says he continues to view the management's guidance as conservative, forecasting revenue growth to increase in 2018 as it fully laps the Medicare reimbursement cut.
11/08/17
LEER
11/08/17
NO CHANGE
Target $120
LEER
Outperform
Inogen price target raised to $120 from $115 at Leerink
Leerink analyst Danielle Antalffy raised her price target for Inogen to $120 from $115 after it delivered its 16th consecutive quarter of "solid" revenue/EPS beat since becoming a public company. The analyst reiterates an Outperform rating on the shares.
12/22/17
NEED
12/22/17
NO CHANGE
Target $32
NEED
Strong Buy
Boston Scientific, Inogen favorite 2018 picks in med tech at Needham
Needham analyst Mike Matson expects 2018 med tech fundamentals to remain stable in 2018 and thinks the medical sector is entering 2018 on "solid footing." Matson's favorite stock and favorite large-cap pick for 2018 is Boston Scientific (BSX), and favorite small/mid-cap pick is Inogent (INGN), both of which are Strong Buy rated. The analyst thinks Boston Scientific has a strong product cycle that should allow it to outpace peers and views 2018 consensus estimates as conservative. For Inogen, Matson sees further upside from the rapid adoption of POCs by home medial equipment companies, direct-to-consumer revenue growth, and very conservative guidance.
02/20/18
PIPR
02/20/18
UPGRADE
PIPR
Overweight
Inogen upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst JP McKim upgraded Inogen (INGN) to Overweight and raised his price target for the shares to $137 from $96. The analyst also keeps an Overweight rating on Tactile Systems (TCMD) with a $36 price target. McKim, who just took over coverage of both names, believes the companies "have disruptive business models in going direct to consumer" in an "ever-changing healthcare environment." Benefiting Inogen, the analyst thinks oxygen tanks will go away in 10 years.

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