William Blair downgrades Inogen citing 'uncertainty' in short term

Inogen

17/01/2023 12:20

** Brokerage William Blair downgrades medical device maker
Inogen Inc  INGN.O  to "market perform" from "outperform" 
    ** Brokerage sees uncertainty for INGN's growth profile in
the short term; says consumer demand is likely to continue to be
impacted by inflation and a potential recession
    ** Expects budgets to remain tight for durable medical
equipment for the "foreseeable future"
    ** There are more headwinds in company's domestic
business-to-business segment than previously expected; will wait
for clarity to see what happens to growth in the segment over
coming quarters as supply chain normalizes - William Blair
    ** Shares of Inogen fell ~25% in the past 12 months
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com))