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

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) has been given a consensus recommendation of "Buy" by the six analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.25.

QIPT has been the topic of a number of analyst reports. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a "strong-buy" rating in a research note on Tuesday, July 16th. Canaccord Genuity Group reduced their price target 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, August 16th. Finally, Benchmark reduced their price target on shares of Quipt Home Medical from $9.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st.

Institutional Investors Weigh In On Quipt Home Medical

Several hedge funds have recently added to or reduced their stakes in QIPT. Russell Investments Group Ltd. boosted its position in Quipt Home Medical by 2.4% during the 1st quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company's stock worth $2,235,000 after buying an additional 12,070 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new position in Quipt Home Medical during the 1st quarter worth approximately $50,000. Connors Investor Services Inc. raised its holdings in Quipt Home Medical by 26.7% during the 1st quarter. Connors Investor Services Inc. now owns 52,208 shares of the company's stock worth $228,000 after purchasing an additional 11,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Quipt Home Medical by 25.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company's stock worth $57,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Boston Partners raised its holdings in Quipt Home Medical by 12.8% during the 1st quarter. Boston Partners now owns 742,006 shares of the company's stock worth $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 Stock Performance

NASDAQ:QIPT traded up $0.05 during mid-day trading on Friday, reaching $2.71. 218,430 shares of the company's stock were exchanged, compared to its average volume of 193,267. Quipt Home Medical has a one year low of $2.60 and a one year high of $5.29. The firm has a market capitalization of $115.37 million, a PE ratio of -27.10 and a beta of 0.60. The business's fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $3.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 1.11.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.05). The firm had revenue of $63.97 million for the quarter, compared to analyst estimates 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 company earned ($0.03) earnings per share. Analysts anticipate that Quipt Home Medical will post -0.1 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.