Royce & Associates LP Purchases 240,980 Shares of Quipt Home Medical Corp. (NASDAQ:QIPT)

Royce & Associates LP increased its position in Quipt Home Medical Corp. (NASDAQ:QIPT) by 15.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,768,789 shares of the company’s stock after acquiring an additional 240,980 shares during the period. Royce & Associates LP owned about 4.10% of Quipt Home Medical worth $5,165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Quipt Home Medical in the third quarter worth $44,000. ProShare Advisors LLC purchased a new position in Quipt Home Medical in the 2nd quarter worth about $35,000. Hsbc Holdings PLC lifted its stake in Quipt Home Medical by 10.4% during the 2nd quarter. Hsbc Holdings PLC now owns 52,522 shares of the company’s stock valued at $165,000 after acquiring an additional 4,969 shares during the period. Rhumbline Advisers lifted its stake in 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Quipt Home Medical by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $418,000 after acquiring an additional 32,073 shares during the last quarter. 42.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QIPT has been the topic of a number of research analyst reports. Benchmark lowered their price objective on shares of 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 dropped their price target on Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Quipt Home Medical presently has a consensus rating of “Buy” and an average target price of $6.25.

Quipt Home Medical Stock Down 4.3 %

QIPT opened at $2.45 on Tuesday. Quipt Home Medical Corp. has a 1-year low of $2.44 and a 1-year high of $5.29. The firm’s 50 day simple moving average is $2.76 and its two-hundred day simple moving average is $3.10. 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 market capitalization of $105.57 million, a PE ratio of -22.27 and a beta of 0.62.

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.