Benchmark Cuts Quipt Home Medical (NASDAQ:QIPT) Price Target to $7.00

Quipt Home Medical (NASDAQ:QIPT - Free Report) had its price objective cut by Benchmark from $9.00 to $7.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

QIPT has been the subject of several other reports. Eight Capital raised Quipt Home Medical to a strong-buy rating in a research report on Friday, May 17th. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a strong-buy rating in a research report on Tuesday, July 16th. Canaccord Genuity Group dropped their price target on shares of Quipt Home Medical from $8.00 to $6.00 and set a buy rating for the company in a research report on Friday, August 16th. Stifel Nicolaus cut their price target on shares of Quipt Home Medical from $10.50 to $9.50 and set a buy rating for the company in a research note on Friday, May 17th. Finally, Raymond James lowered Quipt Home Medical from a market perform rating to an underperform rating and lowered their price objective for the company from $10.00 to $2.50 in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $6.25.

Quipt Home Medical Stock Performance

Quipt Home Medical stock remained flat at $2.71 during trading hours on Wednesday. The company's stock had a trading volume of 236,088 shares, compared to its average volume of 202,664. The firm has a 50 day moving average price of $3.27 and a 200-day moving average price of $3.72. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. Quipt Home Medical has a 52-week low of $2.61 and a 52-week high of $6.01. The firm has a market capitalization of $115.37 million, a price-to-earnings ratio of -27.10 and a beta of 0.64.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.50% and a negative net margin of 1.95%. The business had revenue of $63.97 million during the quarter, compared to the consensus estimate of $65.03 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts forecast that Quipt Home Medical will post -0.02 EPS for the current year.

Institutional Trading of Quipt Home Medical

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Quipt Home Medical by 25.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company's stock worth $57,000 after acquiring an additional 2,640 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Quipt Home Medical by 141.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,755 shares of the company's stock worth $34,000 after purchasing an additional 3,956 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Quipt Home Medical by 10.4% during the second quarter. Hsbc Holdings PLC now owns 52,522 shares of the company's stock worth $165,000 after purchasing an additional 4,969 shares during the last quarter. Bridge City Capital LLC increased its stake in shares of Quipt Home Medical by 17.9% in the first quarter. Bridge City Capital LLC now owns 47,721 shares of the company's stock valued at $209,000 after buying an additional 7,244 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Quipt Home Medical by 21.0% in the second quarter. Rhumbline Advisers now owns 49,276 shares of the company's stock valued at $159,000 after buying an additional 8,541 shares during the last quarter. 42.85% of the stock is owned by institutional investors.

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.