Quipt Home Medical Corp. (NASDAQ:QIPT) Receives $6.25 Average PT from Brokerages

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have been assigned a consensus rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.25.

Several equities analysts have recently commented on QIPT shares. Benchmark reduced their price objective on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Canaccord Genuity Group reduced 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 research report on Friday, August 16th. Finally, Ventum Cap Mkts upgraded shares of Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th.

Quipt Home Medical Stock Down 0.7 %

Shares of NASDAQ QIPT opened at $2.78 on Tuesday. The business has a 50-day moving average of $2.98 and a 200-day moving average of $3.36. The firm has a market capitalization of $118.35 million, a price-to-earnings ratio of -27.80 and a beta of 0.60. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. Quipt Home Medical has a 12 month low of $2.60 and a 12 month high of $5.29.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. The company had revenue of $63.97 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same period in the prior year, the firm earned ($0.03) EPS. Sell-side analysts expect that Quipt Home Medical will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quipt Home Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new stake in Quipt Home Medical in the second quarter valued at approximately $35,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Quipt Home Medical during the 1st quarter valued at $50,000. Price T Rowe Associates Inc. MD boosted its position in 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 period. SG Americas Securities LLC bought a new stake in Quipt Home Medical in the 3rd quarter worth $44,000. Finally, Bridge City Capital LLC increased 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 acquiring an additional 7,244 shares during the period. 42.85% of the stock is currently owned by 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.