Needham & Company Downgrades Inogen, Inc (INGN) to Hold

Needham & Company analyst Mike Matson downgraded Inogen, Inc (NASDAQ: INGN) from Buy to Hold.

The analyst comments "INGN missed consensus revenue, EBITDA, and EPS in 2Q19 and lowered its 2019 revenue, EBITDA, and net income guidance. INGN is facing challenges across most of its sales channels including sales rep turnover in its DTC business, slower sales to internet retailers and a steep decline in sales to a large national provider in its B2B business, and slower growth in its international B2B business. We previously thought that the issues were temporary and that growth would start to improve in 2H19 but we now worry about market saturation and that growth could remain depressed. We think that INGN's decisions to make its first acquisition (New Aera) and refocus on the rental business support this view."

For an analyst ratings summary and ratings history on Inogen, Inc click here. For more ratings news on Inogen, Inc click here.

Shares of Inogen, Inc closed at $55.18 yesterday.

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