Quipt Home Medical Corp. (NASDAQ:QIPT) Given Consensus Recommendation of "Buy" by Brokerages

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) has earned an average recommendation of "Buy" from the six brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.25.

QIPT has been the subject of several research reports. Benchmark reduced their price objective on 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. Canaccord Genuity Group cut their price objective on Quipt Home Medical from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a "strong-buy" rating in a report on Tuesday, July 16th. Raymond James lowered shares of Quipt Home Medical from a "market perform" rating to an "underperform" rating and cut their price target for the company from $10.00 to $2.50 in a report on Friday, May 17th. Finally, Eight Capital raised shares of Quipt Home Medical to a "strong-buy" rating in a research note on Friday, May 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Claret Asset Management Corp raised its stake in shares of Quipt Home Medical by 4.2% during the 1st quarter. Claret Asset Management Corp now owns 4,490,857 shares of the company's stock worth $19,636,000 after purchasing an additional 180,539 shares in the last quarter. Boston Partners raised its position in Quipt Home Medical by 12.8% during 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 in the last quarter. First Eagle Investment Management LLC lifted its stake in Quipt Home Medical by 17.1% in the fourth quarter. First Eagle Investment Management LLC now owns 699,102 shares of the company's stock valued at $3,558,000 after acquiring an additional 102,065 shares during the last quarter. Russell Investments Group Ltd. grew its position in Quipt Home Medical by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company's stock worth $2,235,000 after acquiring an additional 12,070 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 purchasing an additional 32,073 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Quipt Home Medical Price Performance

NASDAQ:QIPT traded down $0.02 during mid-day trading on Friday, reaching $2.70. 134,218 shares of the stock were exchanged, compared to its average volume of 202,895. Quipt Home Medical has a 1-year low of $2.60 and a 1-year high of $5.88. 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 firm has a market capitalization of $114.94 million, a PE ratio of -27.00 and a beta of 0.60. The business has a fifty day moving average price of $3.18 and a 200 day moving average price of $3.58.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last released its 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). The business had revenue of $63.97 million during the quarter, compared to the consensus estimate of $65.03 million. Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Research analysts expect that Quipt Home Medical will post -0.05 earnings per share 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.