Inogen Inc sales below pre-COVID-19 levels - Needham

Inogen

25/02/2021 13:05

** Medical device maker Inogen Inc  INGN.O  saw improvement
in most categories in Q4 but still below pre-COVID-19 levels,
says Needham analyst Mike Matson
    ** Co on Wednesday posted narrower-than-expected losses and
revenues above estimates, helped by increased oxygen demand amid
COVID-19  urn:newsml:reuters.com:*:nBw14JjVKa
    ** Matson says INGN's direct-to-consumer (DTC) rental
business is seeing strong growth but this is being offset by
large declines in DTC sales as its customers remain hesitant to
travel, though this could improve in H2 2021
    ** Co says cash, cash equivalents and marketable securities
were $231.2 mln, as of December 31
    ** Most likely use of cash is M&A to bring in higher growth
products - Matson; Brokerage gives "hold" rating, PT $51.59
    ** 1 of 6 brokerages rate stock "buy", 4 "hold" and 1
"sell"; their median PT is $42
    ** Up to Wednesday's close, stock had risen 23% in the last
12 months 

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))