Quipt Home Medical Corp. (NASDAQ:QIPT) Expected to Post Quarterly Sales of $29.45 Million

Equities research analysts forecast that Quipt Home Medical Corp. (NASDAQ:QIPT) will post $29.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Quipt Home Medical’s earnings. The lowest sales estimate is $27.90 million and the highest is $31.00 million. The firm is scheduled to report its next quarterly earnings results on Monday, November 22nd.

According to Zacks, analysts expect that Quipt Home Medical will report full year sales of $102.74 million for the current financial year, with estimates ranging from $101.50 million to $104.60 million. For the next fiscal year, analysts forecast that the company will post sales of $129.52 million, with estimates ranging from $126.50 million to $133.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Quipt Home Medical.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Sunday, August 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.16.

QIPT has been the topic of several research reports. Beacon Securities restated a “buy” rating on shares of Quipt Home Medical in a report on Tuesday, June 1st. Leede Jones Gab reiterated a “buy” rating on shares of Quipt Home Medical in a report on Wednesday, June 2nd. Colliers Securities reiterated a “buy” rating on shares of Quipt Home Medical in a report on Wednesday, June 2nd. Finally, Raymond James reiterated an “outperform” rating and issued a $9.00 price target on shares of Quipt Home Medical in a report on Wednesday, August 25th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CLARET ASSET MANAGEMENT Corp acquired a new position in Quipt Home Medical in the second quarter valued at approximately $17,171,000. Kennedy Capital Management Inc. acquired a new position in Quipt Home Medical during the second quarter worth $1,459,000. Alpine Woods Capital Investors LLC acquired a new position in Quipt Home Medical during the second quarter worth $549,000. Public Employees Retirement System of Ohio acquired a new position in Quipt Home Medical during the second quarter worth $273,000. Finally, Salem Investment Counselors Inc. acquired a new position in Quipt Home Medical during the second quarter worth $219,000. Hedge funds and other institutional investors own 14.69% of the company’s stock.

Shares of QIPT stock traded down $0.12 on Friday, reaching $6.06. 1 shares of the company’s stock were exchanged, compared to its average volume of 65,885. Quipt Home Medical has a 52 week low of $3.65 and a 52 week high of $8.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.57 and a current ratio of 1.91. The business has a fifty day moving average of $6.03.

About Quipt Home Medical

Quipt Home Medical Corp. provides in-home monitoring equipment, supplies, and services for patients in the United States. It offers daily and ambulatory aides; power mobility equipment; BiPAP and CPAP machines, oxygen concentrators, and ventilators; oxygen therapy; sleep apnea and PAP treatment equipment; disease management services; and home ventilator equipment, as well as rents respiratory equipment.

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Earnings History and Estimates for Quipt Home Medical (NASDAQ:QIPT)

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