Brokerages Set Quipt Home Medical Corp. (NASDAQ:QIPT) Price Target at $7.25

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One equities 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 target price among brokerages that have updated their coverage on the stock in the last year is $6.75.

QIPT has been the topic of a number of research analyst reports. Eight Capital raised Quipt Home Medical to a “strong-buy” rating in a research note on Friday, May 17th. Stifel Nicolaus dropped their target price on shares of Quipt Home Medical from $10.50 to $9.50 and set a “buy” rating for the company in a report on Friday, May 17th. Ventum Cap Mkts raised shares of Quipt Home Medical to a “strong-buy” rating in a research note on Tuesday, July 16th. Benchmark dropped their price objective on shares of Quipt Home Medical from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, Canaccord Genuity Group decreased their target price on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday.

Quipt Home Medical Price Performance

Quipt Home Medical stock opened at $2.95 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 1.14. The company’s fifty day moving average price is $3.31 and its 200 day moving average price is $3.76. The stock has a market capitalization of $125.59 million, a P/E ratio of -29.50 and a beta of 0.64. Quipt Home Medical has a 1 year low of $2.72 and a 1 year high of $6.01.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Quipt Home Medical had a negative net margin of 1.95% and a negative return on equity of 4.50%. 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 business posted ($0.03) earnings per share. As a group, equities research analysts anticipate that Quipt Home Medical will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quipt Home Medical

Institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in shares of Quipt Home Medical during the 2nd quarter valued at approximately $35,000. Hsbc Holdings PLC grew its position in Quipt Home Medical by 10.4% in the second quarter. Hsbc Holdings PLC now owns 52,522 shares of the company’s stock worth $165,000 after acquiring an additional 4,969 shares during the period. Rhumbline Advisers increased its stake in Quipt Home Medical by 21.0% during the second 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 last quarter. Bank of New York Mellon Corp raised its position in Quipt Home Medical by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $418,000 after purchasing an additional 32,073 shares during the period. Finally, Boston Partners lifted its stake in shares of Quipt Home Medical by 12.8% in the 1st quarter. Boston Partners now owns 742,006 shares of the company’s stock valued at $3,243,000 after purchasing an additional 84,182 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.