Quipt Home Medical Corp. (NASDAQ:QIPT) Receives $6.25 Average Target Price from Analysts

Quipt Home Medical Corp. (NASDAQ:QIPT) has earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.25.

Several research firms recently issued reports on QIPT. Ventum Cap Mkts raised shares of Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th. Benchmark cut their target price on shares of Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Canaccord Genuity Group dropped their price objective on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 16th.

Institutional Investors Weigh In On Quipt Home Medical

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Quipt Home Medical by 25.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock valued at $57,000 after purchasing an additional 2,640 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Quipt Home Medical by 10.4% during the 2nd quarter. Hsbc Holdings PLC now owns 52,522 shares of the company’s stock worth $165,000 after buying an additional 4,969 shares during the period. Bridge City Capital LLC raised its holdings in Quipt Home Medical by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 47,721 shares of the company’s stock worth $209,000 after buying an additional 7,244 shares during the period. Rhumbline Advisers raised its holdings in Quipt Home Medical by 21.0% during the 2nd quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock worth $159,000 after buying an additional 8,541 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of Quipt Home Medical in the second quarter valued at approximately $35,000. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Trading Down 1.8 %

Shares of NASDAQ:QIPT opened at $2.76 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $3.02 and a 200-day moving average of $3.39. Quipt Home Medical has a twelve month low of $2.60 and a twelve month high of $5.29. The firm has a market cap of $117.50 million, a P/E ratio of -27.60 and a beta of 0.60.

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

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.