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

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $6.25.

Several brokerages recently issued reports on QIPT. Canaccord Genuity Group cut their price target on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 16th. Benchmark cut their target price on shares of Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Ventum Cap Mkts raised Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th.

Quipt Home Medical Trading Up 4.3 %

QIPT stock opened at $2.92 on Tuesday. Quipt Home Medical has a 1-year low of $2.60 and a 1-year high of $5.29. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $3.06 and its 200-day moving average is $3.40. The firm has a market cap of $124.31 million, a P/E ratio of -29.20 and a beta of 0.60.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. The company had revenue of $63.97 million for the quarter, compared to analyst estimates of $65.03 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Equities analysts anticipate that Quipt Home Medical will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quipt Home Medical

A number of large investors have recently modified their holdings of QIPT. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Quipt Home Medical in the first quarter valued at approximately $50,000. Rhumbline Advisers boosted its position in Quipt Home Medical by 21.0% in the 2nd quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock valued at $159,000 after buying an additional 8,541 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Quipt Home Medical by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $418,000 after buying an additional 32,073 shares during the period. Boston Partners raised its position in shares of Quipt Home Medical by 12.8% during the first quarter. Boston Partners now owns 742,006 shares of the company’s stock worth $3,243,000 after acquiring an additional 84,182 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Quipt Home Medical by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company’s stock valued at $2,235,000 after acquiring an additional 12,070 shares during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Quipt Home Medical Company Profile

Quipt Home Medical Corp., through its subsidiaries, engages in the provision of durable and home medical equipment and supplies in the United States. The company offers nebulizers, oxygen concentrators, and CPAP and BiPAP units; traditional and non-traditional durable medical respiratory equipment and services; non-invasive ventilation equipment, supplies, and services; and engages in the rental of medical equipment.