Quipt Home Medical (NASDAQ:QIPT) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Quipt Home Medical (NASDAQ:QIPT) posted its quarterly earnings data on Monday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11), Zacks reports. Quipt Home Medical had a negative net margin of 4.30% and a negative return on equity of 9.78%.

Quipt Home Medical Price Performance

Quipt Home Medical stock opened at $2.61 on Monday. Quipt Home Medical has a 52-week low of $1.35 and a 52-week high of $3.27. The company has a quick ratio of 0.75, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $2.43 and its 200 day moving average is $2.30. The company has a market cap of $113.38 million, a price-to-earnings ratio of -10.87 and a beta of 0.59.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Quipt Home Medical in a report on Wednesday, October 8th. Canaccord Genuity Group increased their price target on Quipt Home Medical from $1.70 to $2.30 and gave the stock a “hold” rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Quipt Home Medical currently has an average rating of “Hold” and a consensus price target of $3.15.

Institutional Trading of Quipt Home Medical

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of Quipt Home Medical in the third quarter valued at $4,539,000. Kanen Wealth Management LLC grew its holdings in Quipt Home Medical by 108.4% during the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after purchasing an additional 1,544,529 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Quipt Home Medical by 19.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 752,743 shares of the company’s stock worth $1,964,000 after purchasing an additional 121,631 shares during the period. Jane Street Group LLC raised its position in Quipt Home Medical by 207.3% in the 2nd quarter. Jane Street Group LLC now owns 163,175 shares of the company’s stock worth $293,000 after purchasing an additional 110,070 shares during the period. Finally, Marshall Wace LLP bought a new stake in Quipt Home Medical in the second quarter worth about $162,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

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.