Inogen (INGN) Soars 15.4%: Is Further Upside Left in the Stock?
Inogen (INGN) shares ended the last trading session 15.4% higher at $6.07. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.5% loss over the past four weeks.
Inogen Health recorded a strong price increase after it announced Grégoire Ramade as its Chief Commercial Officer from Jan 2, 2024. Mr. Ramade’s global business expertise at multiple medical companies is likely to benefit the company.
This produces oxygen concentrators for patients suffering from chronic respiratory conditions is expected to post quarterly loss of $0.65 per share in its upcoming report, which represents a year-over-year change of -14%. Revenues are expected to be $78.09 million, down 11.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Inogen, the consensus EPS estimate for the quarter has been revised 8.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on INGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Inogen is part of the Zacks Medical - Instruments industry. Intuitive Surgical, Inc. (ISRG), another stock in the same industry, closed the last trading session 0.2% lower at $322.50. ISRG has returned 3.8% in the past month.
For Intuitive Surgical, Inc. , the consensus EPS estimate for the upcoming report has changed -1.1% over the past month to $1.47. This represents a change of +19.5% from what the company reported a year ago. Intuitive Surgical, Inc. currently has a Zacks Rank of #3 (Hold).
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