Quipt Home Medical Corp. (NASDAQ:QIPT) Given Consensus Recommendation of “Buy” by Analysts

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

QIPT has been the subject of a number of research analyst reports. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th. Benchmark dropped their price objective on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Canaccord Genuity Group decreased their target price on Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 16th.

Institutional Trading of Quipt Home Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in QIPT. ProShare Advisors LLC bought a new stake in shares of Quipt Home Medical during the second quarter valued at about $35,000. SG Americas Securities LLC purchased a new position in shares of Quipt Home Medical during the 3rd quarter valued at $44,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Quipt Home Medical in the first quarter worth $50,000. Price T Rowe Associates Inc. MD grew its position in Quipt Home Medical by 25.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock worth $57,000 after buying an additional 2,640 shares in the last quarter. Finally, Rhumbline Advisers boosted its position 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 valued at $159,000 after acquiring an additional 8,541 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

Quipt Home Medical Trading Up 0.4 %

Shares of QIPT stock opened at $2.63 on Friday. Quipt Home Medical has a 52-week low of $2.57 and a 52-week high of $5.29. The company has a 50-day simple moving average of $2.79 and a two-hundred day simple moving average of $3.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 1.11. The company has a market capitalization of $113.33 million, a price-to-earnings ratio of -23.91 and a beta of 0.60.

Quipt Home Medical (NASDAQ:QIPT) last issued 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 business had revenue of $63.97 million for the quarter, compared to the consensus estimate of $65.03 million. During the same quarter last year, the business posted ($0.03) earnings per share. Research analysts anticipate that Quipt Home Medical will post -0.1 EPS 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.