Quipt Home Medical (NASDAQ:QIPT) Stock Price Up 0.3% – Should You Buy?

Quipt Home Medical Corp. (NASDAQ:QIPT)’s stock price was up 0.3% during trading on Tuesday . The company traded as high as $3.64 and last traded at $3.64. Approximately 816,511 shares were traded during mid-day trading, an increase of 154% from the average daily volume of 321,028 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

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

Quipt Home Medical Stock Up 0.3%

The stock has a market capitalization of $161.87 million, a P/E ratio of -15.17 and a beta of 0.54. The stock has a 50 day moving average price of $3.57 and a 200-day moving average price of $2.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.04 and a quick ratio of 0.68.

Quipt Home Medical (NASDAQ:QIPT) last issued its earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.08. The company had revenue of $82.24 million during the quarter, compared to analysts’ expectations of $104.35 million. Quipt Home Medical had a negative return on equity of 9.94% and a negative net margin of 4.05%. As a group, research analysts expect that Quipt Home Medical Corp. will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Quipt Home Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kanen Wealth Management LLC boosted its position 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 buying an additional 1,544,529 shares during the period. Jane Street Group LLC purchased a new stake in shares of Quipt Home Medical during the first quarter worth about $124,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Quipt Home Medical in the second quarter worth about $34,000. Catalyst Funds Management Pty Ltd bought a new stake in shares of Quipt Home Medical in the second quarter worth about $31,000. Finally, Franklin Resources Inc. raised its position in Quipt Home Medical by 16.8% during the 2nd quarter. Franklin Resources Inc. now owns 824,124 shares of the company’s stock valued at $1,475,000 after purchasing an additional 118,332 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

About Quipt Home Medical

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.