Inogen, Inc (INGN) Management Meetings Imply Double Digit Growth - Piper Jaffray

Piper Jaffray analyst JP McKim reiterated an Overweight rating and $80.00 price target on Inogen, Inc (NASDAQ: INGN) after hosting investor meetings with CEO Scott Wilkinson and CFO Ali Bauerlein and Medicare released data showing POC penetration at 14% in 2018. This data is up from 11% in 2017 and likely has years of growth ahead of it as the thematic shift to POCs away from tanks continues.

The analyst stated "the company plans to provide 2020 guidance on their Q3 call which they hinted at double digit growth. But, the question we get is what kind of double digit growth. Our best guess (and not blessed by management) is in the low teens (10%-15%). Looking back in history, the company traditionally guided 17% to 24%. Given the uncertainty around competitive bidding, and new strategy around the sales force expansion (and also a management team that has been through a lot over the last 8 months), we expect a very conservative approach and feel low teens is the right way to think about how the company will guide".

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 $47.08 yesterday.

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