Needham & Company analyst Mike Matson reiterated a Strong Buy rating and bumped his price target on Inogen, Inc (NASDAQ: INGN) to $46.00 (from $45.00) following strong Q4 results.

Matson commented, "INGN beat consensus in 4Q14 and raised its 2015 revenue guidance. Growth remained strong across INGN's sales channels with domestic business-to-business seeing the highest growth at 92% and direct-to-consumer rentals seeing the lowest growth at 25%. INGN's operating margin was better than expected as revenue growth continued to significantly exceed operating expense growth. INGN's audit committee investigation has ended and found that five sales reps falsified documentation which resulted in a $0.3M and $0.1M reduction to 4Q14 revenue and net income, respectively. We reiterate our Strong Buy rating since we expect upward estimate revisions and multiple expansion to continue to push INGN shares higher."

The firm maintained FY 2015 EPS at $0.43 and bumped BY 2016 E[S from $0.40 to $0.41.

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 $37.13 yesterday.