Inogen (INGN) is an interesting business which has seen incredible pressure on its share price, with shares down 60% from recent highs, as the correction followed an almost crazy momentum run seen in recent times. Such decline, in combination with compelling revenue growth, always triggers my enthusiasm, although the stand-alone valuation of the business remains quite high in terms of earnings multiples.
For now, sales multiples still look justifiable given the revenue growth reported, mostly because operating margins do not live up to the margins seen within the wider medical device sector at