Quipt Home Medical (NASDAQ:QIPT) Announces Quarterly Earnings Results

Quipt Home Medical (NASDAQ:QIPT) posted its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05), Zacks reports. The firm had revenue of $63.97 million for the quarter, compared to the consensus estimate of $65.03 million. Quipt Home Medical had a negative net margin of 1.71% and a negative return on equity of 3.89%. During the same quarter last year, the firm earned ($0.03) EPS.

Quipt Home Medical Stock Down 18.0 %

Shares of Quipt Home Medical stock traded down $0.60 during trading on Thursday, hitting $2.74. 1,223,529 shares of the stock traded hands, compared to its average volume of 192,548. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $3.31 and its 200 day simple moving average is $3.78. The firm has a market cap of $116.65 million, a P/E ratio of -27.40 and a beta of 0.64. Quipt Home Medical has a 52-week low of $2.72 and a 52-week high of $6.01.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QIPT. Eight Capital upgraded shares of Quipt Home Medical to a “strong-buy” rating in a report on Friday, May 17th. Stifel Nicolaus reduced their price target on Quipt Home Medical from $10.50 to $9.50 and set a “buy” rating on the stock in a report on Friday, May 17th. Canaccord Genuity Group decreased their price target on Quipt Home Medical from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Raymond James downgraded Quipt Home Medical from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $10.00 to $2.50 in a research report on Friday, May 17th. Finally, Ventum Cap Mkts upgraded Quipt Home Medical to a “strong-buy” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.25.

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.