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

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.25.

A number of equities analysts have issued reports on QIPT shares. Ventum Cap Mkts upgraded Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th. Canaccord Genuity Group cut their price target on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Benchmark decreased their price objective on shares of Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 21st.

Quipt Home Medical Trading Up 4.3 %

Shares of NASDAQ QIPT opened at $2.92 on Tuesday. The company’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $3.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.77. Quipt Home Medical has a fifty-two week low of $2.60 and a fifty-two week high of $5.29. The firm has a market capitalization of $124.31 million, a P/E ratio of -29.20 and a beta of 0.60.

Quipt Home Medical (NASDAQ:QIPT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. The company had revenue of $63.97 million during the quarter, compared to the consensus estimate of $65.03 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, analysts predict that Quipt Home Medical will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Quipt Home Medical

Several institutional investors have recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. bought a new stake in Quipt Home Medical during the 1st quarter worth approximately $50,000. Rhumbline Advisers boosted its holdings in shares of Quipt Home Medical by 21.0% in the second quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock valued at $159,000 after buying an additional 8,541 shares during the period. Bank of New York Mellon Corp increased its position in shares of Quipt Home Medical by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $418,000 after acquiring an additional 32,073 shares in the last quarter. Boston Partners increased its position in shares of Quipt Home Medical by 12.8% during the first quarter. Boston Partners now owns 742,006 shares of the company’s stock worth $3,243,000 after acquiring an additional 84,182 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Quipt Home Medical by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company’s stock worth $2,235,000 after acquiring an additional 12,070 shares during the period. 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.