Positive recovery trends to continue for Inogen after strong Q1 - analysts

Inogen

05/05/2021 13:29

** Medical device maker Inogen's  INGN.O  Q1 results were
encouraging and the positive recovery trends in its business are
likely to continue with the bulk of seniors now vaccinated and a
desire to move around more starting to build, brokerage J.P.
Morgan says
    ** Co on Tuesday posted Q1 adjusted loss of 3 cents/shr vs
estimated loss of 27 cents/shr - Refinitiv IBES data
 urn:newsml:reuters.com:*:nL8N2MR8BJ
    ** INGN makes portable oxygen concentrators (POCs) used to
deliver oxygen therapy to patients suffering from chronic
respiratory conditions
    ** INGN's renewed focus on rentals (for the POCs) could also
improve revenue stability over time, brokerage says; raises PT
to $60 from $35
    ** Brokerage sees challenges for INGN in hiring sales
representatives due to the pandemic, which it says could hamper
INGN's direct-to-consumer business 
    ** SVB Leerink says neither COVID-19 nor the sales force
execution issues change the POC market opportunity or INGN's
strong position within it; raises PT to $72.00 from $67.00
    ** Up to Tuesday's close, INGN up ~50% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
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