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

Quipt Home Medical Corp. (NASDAQ:QIPT) has received a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $6.25.

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

Institutional Trading of Quipt Home Medical

A number of large investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC purchased a new stake in shares of Quipt Home Medical during the 2nd quarter worth approximately $35,000. SG Americas Securities LLC bought a new stake in shares of Quipt Home Medical in the third quarter valued at $44,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Quipt Home Medical during the 1st quarter valued at $50,000. Price T Rowe Associates Inc. MD lifted its position in shares of Quipt Home Medical by 25.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock valued at $57,000 after buying an additional 2,640 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Quipt Home Medical by 21.0% during the 2nd quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock worth $159,000 after acquiring an additional 8,541 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Trading Down 0.7 %

QIPT opened at $2.78 on Tuesday. 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 $118.35 million, a PE ratio of -27.80 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.77. The company’s 50-day moving average is $2.98 and its 200 day moving average is $3.36.

Quipt Home Medical (NASDAQ:QIPT) last posted its earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Quipt Home Medical had a negative net margin of 1.95% and a negative return on equity of 4.51%. 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) EPS. As a group, research analysts predict that Quipt Home Medical will post -0.1 earnings per share for the current fiscal year.

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.