Quipt Home Medical (NASDAQ:QIPT) Rating Lowered to Sell at Wall Street Zen

Quipt Home Medical (NASDAQ:QIPT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other research firms have also recently issued reports on QIPT. Canaccord Genuity Group reissued a “hold” rating and set a $1.70 price objective (down previously from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. Benchmark reissued a “buy” rating and set a $4.00 price objective (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th.

Quipt Home Medical Stock Performance

Shares of Quipt Home Medical stock opened at $1.81 on Thursday. The stock has a market cap of $77.78 million, a PE ratio of -10.62 and a beta of 0.65. The business has a fifty day simple moving average of $2.07 and a 200-day simple moving average of $2.51. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. Quipt Home Medical has a 12 month low of $1.35 and a 12 month high of $4.07.

Quipt Home Medical (NASDAQ:QIPT) last issued its earnings results on Monday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $57.40 million during the quarter, compared to analyst estimates of $88.29 million. Quipt Home Medical had a negative return on equity of 6.70% and a negative net margin of 2.90%. On average, sell-side analysts anticipate that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

Institutional Trading of Quipt Home Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC acquired a new stake in shares of Quipt Home Medical in the fourth quarter worth about $36,000. Wells Fargo & Company MN increased its stake in shares of Quipt Home Medical by 30.9% in the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company’s stock worth $73,000 after purchasing an additional 5,625 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Quipt Home Medical by 83.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company’s stock worth $76,000 after purchasing an additional 12,479 shares during the period. XTX Topco Ltd increased its stake in shares of Quipt Home Medical by 54.3% in the fourth quarter. XTX Topco Ltd now owns 28,452 shares of the company’s stock worth $87,000 after purchasing an additional 10,015 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Quipt Home Medical by 68.7% in the third quarter. JPMorgan Chase & Co. now owns 30,403 shares of the company’s stock worth $89,000 after purchasing an additional 12,383 shares during the period. Institutional investors and hedge funds own 42.85% of the company’s stock.

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.