Quipt Home Medical (NASDAQ:QIPT) Price Target Raised to $2.30 at Canaccord Genuity Group

Quipt Home Medical (NASDAQ:QIPT) had its price objective boosted by Canaccord Genuity Group from $1.70 to $2.30 in a research report report published on Tuesday, Marketbeat.com reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Benchmark reissued a “buy” rating and set a $4.00 target price (down from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th. Wall Street Zen raised Quipt Home Medical from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.15.

Quipt Home Medical Stock Down 4.0%

QIPT stock opened at $2.17 on Tuesday. Quipt Home Medical has a twelve month low of $1.35 and a twelve month high of $3.27. The company has a market cap of $94.26 million, a PE ratio of -9.04 and a beta of 0.59. The business’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.17. The company has a quick ratio of 0.75, a current ratio of 1.15 and a debt-to-equity ratio of 0.71.

Quipt Home Medical (NASDAQ:QIPT) last released its earnings results on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%.The firm had revenue of $58.30 million for the quarter, compared to analyst estimates of $80.37 million. On average, research analysts anticipate that Quipt Home Medical will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in Quipt Home Medical by 207.3% during the 2nd quarter. Jane Street Group LLC now owns 163,175 shares of the company’s stock worth $293,000 after acquiring an additional 110,070 shares during the period. Diversify Advisory Services LLC acquired a new stake in Quipt Home Medical during the 2nd quarter worth $29,000. Qube Research & Technologies Ltd acquired a new stake in Quipt Home Medical during the 2nd quarter worth $116,000. Pale Fire Capital SE grew its holdings in Quipt Home Medical by 86.7% during the 2nd quarter. Pale Fire Capital SE now owns 460,303 shares of the company’s stock worth $824,000 after acquiring an additional 213,807 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Quipt Home Medical during the 2nd quarter worth $162,000. Institutional investors own 42.85% of the company’s stock.

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.