Ingen Technologies, Inc. Receives Favorable Analyst Report
Published: Nov 19, 2012
RIVERSIDE, CA--(Marketwire - November 16, 2012) - Ingen Technologies, Inc. (PINKSHEETS: IGNT), an emerging medical device manufacturer with patented proprietary technology for the growing $4 billion Respiratory Market, is pleased to announce that it will release an Analyst Research Report on December 3, 2012. The in-depth report forecasts the Company's revenues to grow to $2.0 million in FY-2013 and $50.0 million by 2018. Based on an average of the Cohen Price Target, IGNT common stock is valued at $0.15 per share, 1,878.1% higher than the current market price of $0.0075 per share. According to the report IGNT is an interesting short term trade and potentially a long term investment.
According to this report, the market potential for the Company's products is estimated to be around $200 million annually. Ingen, with its innovative products, is well positioned to capitalize on the growing market opportunity, driven by the growing aging population and the increase in home healthcare services.
In addition, the 828 companies in the high-tech medical device industry generate in excess of $60 billion in revenue and employ over 88,000 workers. Medtronic, GE and St. Jude Medical are the top three grossing companies, controlling 31.9% of market share. Ingen is positioning itself to be a global player in the growing industry. Since Oxyview is the only pneumatic flow meter using gravity-independent technology, Ingen is in a strong position to compete with gravity-dependent technologies currently available in the market.
Further, with sales through the National Distributor, we expect Ingen to aggressively explore various opportunities with government-based medical equipment suppliers that would provide Oxyview® to VA Hospitals and Department of Defense military medical facilities. The Company has already received a GSA-Department of Veterans Affairs Federal Supply Contract Award that will allow Ingen to explore this segment. Ingen plans to deliver product to GSA facilities in 2013.
VISIT OUR WEBSITE AT: www.ingen-tech.com or FACT SHEET AT: http://ingen-tech.com/files/documents/ignt-1112.pdf
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.