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

Quipt Home Medical (NASDAQ:QIPT) released its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, Zacks reports. Quipt Home Medical had a negative net margin of 4.38% and a negative return on equity of 10.13%.

Quipt Home Medical Trading Up 0.1%

QIPT stock traded up $0.01 during mid-day trading on Tuesday, reaching $3.57. 15,644 shares of the stock traded hands, compared to its average volume of 518,732. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 1.05. The business has a 50-day moving average price of $3.36 and a two-hundred day moving average price of $2.76. Quipt Home Medical has a one year low of $1.35 and a one year high of $3.61. The stock has a market capitalization of $156.97 million, a PE ratio of -14.26 and a beta of 0.55.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group set a $3.65 price target on Quipt Home Medical in a report on Wednesday, December 17th. Benchmark restated a “buy” rating on shares of Quipt Home Medical in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quipt Home Medical in a report on Monday, December 29th. Finally, Stifel Nicolaus lowered Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $3.83.

Institutional Investors Weigh In On Quipt Home Medical

A number of hedge funds have recently made changes to their positions in QIPT. Kanen Wealth Management LLC raised its holdings in shares of Quipt Home Medical by 108.4% in the first quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock worth $6,919,000 after buying an additional 1,544,529 shares during the last quarter. Jane Street Group LLC acquired a new position in Quipt Home Medical in the first quarter valued at approximately $124,000. XTX Topco Ltd purchased a new position in shares of Quipt Home Medical during the 2nd quarter valued at approximately $70,000. Arrowstreet Capital Limited Partnership raised its holdings in Quipt Home Medical by 9.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 631,112 shares of the company’s stock worth $1,130,000 after purchasing an additional 52,195 shares during the period. Finally, Marshall Wace LLP purchased a new position in Quipt Home Medical during the second quarter valued at $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 (NASDAQ: QIPT) is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.