Quipt Home Medical (NASDAQ:QIPT) Stock Price Up 0.3% – Here’s What Happened

Quipt Home Medical Corp. (NASDAQ:QIPT) shares traded up 0.3% on Tuesday . The stock traded as high as $3.64 and last traded at $3.64. 816,511 shares were traded during mid-day trading, an increase of 154% from the average session volume of 321,028 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quipt Home Medical in a report on Monday, December 29th. Canaccord Genuity Group set a $3.65 price target on shares of Quipt Home Medical in a research report on Wednesday, December 17th. Stifel Nicolaus downgraded shares of Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a report on Monday, December 15th. Finally, Benchmark reiterated a “buy” rating on shares of Quipt Home Medical in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $3.83.

Quipt Home Medical Price Performance

The business’s 50-day moving average price is $3.57 and its 200 day moving average price is $2.93. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $161.87 million, a P/E ratio of -15.17 and a beta of 0.54.

Quipt Home Medical (NASDAQ:QIPT) last posted its earnings results on Tuesday, February 10th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.08. Quipt Home Medical had a negative net margin of 4.05% and a negative return on equity of 9.94%. The business had revenue of $82.24 million for the quarter, compared to analyst estimates of $104.35 million. Analysts anticipate that Quipt Home Medical Corp. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Quipt Home Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in Quipt Home Medical by 9.9% in the 4th quarter. Empowered Funds LLC now owns 84,015 shares of the company’s stock worth $297,000 after acquiring an additional 7,563 shares during the last quarter. Quarry LP purchased a new position in shares of Quipt Home Medical during the fourth quarter worth about $28,000. Crescent Sterling Ltd. bought a new position in shares of Quipt Home Medical in the fourth quarter worth approximately $35,000. Retirement Planning Co of New England Inc. purchased a new stake in Quipt Home Medical in the third quarter valued at approximately $26,000. Finally, Bank of America Corp DE raised its stake in Quipt Home Medical by 23.2% in the third quarter. Bank of America Corp DE now owns 70,945 shares of the company’s stock valued at $185,000 after purchasing an additional 13,374 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

About Quipt Home Medical

Quipt Home Medical (NASDAQ: QIPT) is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.