FY2024 Earnings Estimate for Quipt Home Medical Corp. Issued By Leede Financial (NASDAQ:QIPT)

Quipt Home Medical Corp. (NASDAQ:QIPT) – Stock analysts at Leede Financial lowered their FY2024 earnings estimates for Quipt Home Medical in a report issued on Thursday, August 15th. Leede Financial analyst D. Loe now anticipates that the company will post earnings per share of ($0.12) for the year, down from their prior forecast of ($0.05). The consensus estimate for Quipt Home Medical’s current full-year earnings is ($0.02) per share. Leede Financial also issued estimates for Quipt Home Medical’s FY2025 earnings at ($0.03) EPS.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The business had revenue of $63.97 million for the quarter, compared to analyst estimates of $65.03 million. Quipt Home Medical had a negative net margin of 1.95% and a negative return on equity of 4.50%. During the same quarter in the prior year, the business earned ($0.03) earnings per share.

Other research analysts have also recently issued reports about the stock. Benchmark cut their price target on shares of Quipt Home Medical from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Ventum Cap Mkts upgraded shares of 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 report on Friday, August 16th. Stifel Nicolaus cut their price target on shares of Quipt Home Medical from $10.50 to $9.50 and set a “buy” rating on the stock in a report on Friday, May 17th. Finally, Raymond James cut shares of Quipt Home Medical from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $2.50 in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Quipt Home Medical presently has a consensus rating of “Buy” and a consensus target price of $6.75.

Quipt Home Medical Stock Down 2.2 %

Shares of NASDAQ QIPT opened at $2.71 on Monday. The stock has a market capitalization of $115.37 million, a P/E ratio of -27.10 and a beta of 0.64. The company has a 50-day moving average price of $3.29 and a 200-day moving average price of $3.73. Quipt Home Medical has a 1 year low of $2.61 and a 1 year high of $6.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 0.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Quipt Home Medical by 25.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock valued at $57,000 after acquiring an additional 2,640 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Quipt Home Medical by 141.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,755 shares of the company’s stock valued at $34,000 after acquiring an additional 3,956 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Quipt Home Medical by 10.4% in the second quarter. Hsbc Holdings PLC now owns 52,522 shares of the company’s stock valued at $165,000 after purchasing an additional 4,969 shares during the period. Bridge City Capital LLC raised its position in shares of Quipt Home Medical by 17.9% in the first quarter. Bridge City Capital LLC now owns 47,721 shares of the company’s stock valued at $209,000 after purchasing an additional 7,244 shares during the period. Finally, Rhumbline Advisers raised its position 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 purchasing an additional 8,541 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

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.