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

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have been assigned an average rating of “Buy” from the three research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.85.

QIPT has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $4.00 price objective (down previously from $6.00) on shares of Quipt Home Medical in a research note on Wednesday, May 14th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.70 price objective (down previously from $4.00) on shares of Quipt Home Medical in a research note on Tuesday, May 13th.

Institutional Trading of Quipt Home Medical

A number of hedge funds have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC boosted its stake in Quipt Home Medical by 108.4% in the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock worth $6,919,000 after buying an additional 1,544,529 shares during the last quarter. Royce & Associates LP boosted its stake in Quipt Home Medical by 12.1% in the 4th quarter. Royce & Associates LP now owns 1,982,089 shares of the company’s stock worth $6,045,000 after buying an additional 213,300 shares during the last quarter. First Manhattan CO. LLC. boosted its stake in Quipt Home Medical by 3.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,650,000 shares of the company’s stock worth $5,032,000 after buying an additional 50,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Quipt Home Medical by 6.5% in the 1st quarter. Russell Investments Group Ltd. now owns 969,822 shares of the company’s stock worth $2,260,000 after buying an additional 59,204 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Quipt Home Medical by 8.7% in the 3rd quarter. Franklin Resources Inc. now owns 740,785 shares of the company’s stock worth $2,163,000 after buying an additional 59,441 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

Quipt Home Medical Stock Down 1.1%

Quipt Home Medical stock opened at $1.40 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.87 and a current ratio of 1.22. The firm has a market capitalization of $60.11 million, a price-to-earnings ratio of -8.21 and a beta of 0.65. Quipt Home Medical has a fifty-two week low of $1.35 and a fifty-two week high of $4.07. The stock’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.53.

Quipt Home Medical (NASDAQ:QIPT) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The company had revenue of $57.40 million for the quarter, compared to analyst estimates of $88.29 million. Quipt Home Medical had a negative net margin of 2.90% and a negative return on equity of 6.70%. Analysts predict that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

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.