Quipt Home Medical Corp. (NASDAQ:QIPT) Receives Consensus Rating of “Buy” from Analysts

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT – Get Rating) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.69.

A number of brokerages recently weighed in on QIPT. Zacks Investment Research raised shares of Quipt Home Medical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 9th. Raymond James reaffirmed an “outperform” rating and issued a $11.50 price target on shares of Quipt Home Medical in a research note on Wednesday, February 16th.

QIPT stock opened at $4.94 on Wednesday. The company’s 50-day simple moving average is $4.64 and its 200-day simple moving average is $5.37. The company has a quick ratio of 1.38, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. Quipt Home Medical has a 52-week low of $4.03 and a 52-week high of $7.72. The firm has a market cap of $165.64 million and a P/E ratio of -15.44.

Quipt Home Medical (NASDAQ:QIPT – Get Rating) last posted its earnings results on Monday, February 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $29.53 million for the quarter, compared to analysts’ expectations of $30.30 million. Quipt Home Medical had a negative return on equity of 4.36% and a negative net margin of 8.86%. On average, analysts anticipate that Quipt Home Medical will post 0.12 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Independent Advisor Alliance acquired a new stake in shares of Quipt Home Medical during the 3rd quarter worth approximately $66,000. First Manhattan Co. increased its holdings in shares of Quipt Home Medical by 56.0% during the 3rd quarter. First Manhattan Co. now owns 446,250 shares of the company’s stock worth $2,815,000 after buying an additional 160,250 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Quipt Home Medical during the 3rd quarter worth approximately $1,576,000. Precision Wealth Strategies LLC increased its holdings in shares of Quipt Home Medical by 28.6% during the 4th quarter. Precision Wealth Strategies LLC now owns 51,902 shares of the company’s stock worth $291,000 after buying an additional 11,531 shares during the last quarter. Finally, Royal Bank of Canada acquired a new stake in shares of Quipt Home Medical during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 21.35% of the company’s stock.

Quipt Home Medical Company Profile (Get Rating)

Quipt Home Medical Corp. provides in-home medical equipment and supplies, and respiratory and durable medical equipment in the United States. The company also offers management of various chronic disease states focusing on patients with heart and pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions.

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