SG Americas Securities LLC bought a new position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,150 shares of the company’s stock, valued at approximately $44,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC acquired a new position in shares of Quipt Home Medical during the 2nd quarter worth $35,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Quipt Home Medical in the first quarter worth about $50,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Quipt Home Medical by 25.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock valued at $57,000 after purchasing an additional 2,640 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Quipt Home Medical by 21.0% during the 2nd quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock valued at $159,000 after purchasing an additional 8,541 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Quipt Home Medical by 10.4% during the 2nd quarter. Hsbc Holdings PLC now owns 52,522 shares of the company’s stock worth $165,000 after purchasing an additional 4,969 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on QIPT shares. Canaccord Genuity Group decreased their target price on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Benchmark reduced their price objective on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Ventum Cap Mkts upgraded Quipt Home Medical to a “strong-buy” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.25.
Quipt Home Medical Stock Performance
Shares of Quipt Home Medical stock opened at $2.71 on Wednesday. The stock has a market cap of $116.77 million, a price-to-earnings ratio of -24.64 and a beta of 0.60. Quipt Home Medical Corp. has a twelve month low of $2.60 and a twelve month high of $5.29. The company’s fifty day moving average is $2.80 and its 200 day moving average is $3.20. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.
Quipt Home Medical (NASDAQ:QIPT – Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). The company had revenue of $63.97 million for the quarter, compared to analyst estimates of $65.03 million. Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. During the same period in the previous year, the firm posted ($0.03) earnings per share. Sell-side analysts forecast that Quipt Home Medical Corp. will post -0.1 EPS for the current year.
About Quipt Home Medical
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.
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