Hammered By Supply Issues, Inogen Could Be A 2023 Comeback Story

I was concerned about Inogen's (NASDAQ:INGN) supply chain risk back in August of 2021, but that situation went from bad to worse since, culminating in a roughly one-month suspension of manufacturing. While there have been encouraging developments (including growth in the rental business), supply chain and margin challenges are likely to loom over the company and the stock for the remainder of 2022.

These shares have fallen another 45% since my last update, and they look pretty washed out at this point, with little sell-side support and a pretty undemanding valuation. With ongoing growth opportunities in the rental and international channels, I think this is a name that could come back to life when the supply situation improves (likely 2023), allowing for revenue reacceleration and margin leverage.

 

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Hammered By Supply Issues, Inogen Could Be A 2023 Comeback Story