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

Quipt Home Medical Corp. (NASDAQ:QIPT) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.25.

Several research analysts have weighed in on the company. Canaccord Genuity Group lowered their price objective on 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. Benchmark dropped their price objective 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Royce & Associates LP lifted its position in Quipt Home Medical by 15.8% during the third quarter. Royce & Associates LP now owns 1,768,789 shares of the company’s stock worth $5,165,000 after purchasing an additional 240,980 shares during the period. Rhumbline Advisers lifted its holdings 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 worth $159,000 after acquiring an additional 8,541 shares during the period. Bank of New York Mellon Corp boosted its position 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 worth $418,000 after acquiring an additional 32,073 shares in the last quarter. Boston Partners increased its stake in Quipt Home Medical by 12.8% in the first quarter. Boston Partners now owns 742,006 shares of the company’s stock valued at $3,243,000 after acquiring an additional 84,182 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Quipt Home Medical by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company’s stock valued at $2,235,000 after purchasing an additional 12,070 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Stock Performance

Shares of NASDAQ:QIPT opened at $2.45 on Wednesday. The stock has a market cap of $105.57 million, a PE ratio of -22.27 and a beta of 0.62. The business has a 50 day moving average of $2.75 and a 200-day moving average of $3.08. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. Quipt Home Medical has a 12-month low of $2.43 and a 12-month high of $5.29.

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.