Claret Asset Management Corp Lowers Holdings in Quipt Home Medical Corp. $QIPT

Claret Asset Management Corp trimmed its stake in Quipt Home Medical Corp. (NASDAQ:QIPT) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,958,673 shares of the company’s stock after selling 276,614 shares during the quarter. Quipt Home Medical accounts for 1.2% of Claret Asset Management Corp’s portfolio, making the stock its 22nd biggest holding. Claret Asset Management Corp owned about 0.09% of Quipt Home Medical worth $10,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new position in shares of Quipt Home Medical in the 3rd quarter worth about $4,539,000. Kanen Wealth Management LLC grew its position in Quipt Home Medical by 108.4% during the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after purchasing an additional 1,544,529 shares during the last quarter. Pale Fire Capital SE increased its stake in Quipt Home Medical by 86.7% during the 2nd quarter. Pale Fire Capital SE now owns 460,303 shares of the company’s stock valued at $824,000 after purchasing an additional 213,807 shares in the last quarter. Franklin Resources Inc. increased its stake in Quipt Home Medical by 16.8% during the 2nd quarter. Franklin Resources Inc. now owns 824,124 shares of the company’s stock valued at $1,475,000 after purchasing an additional 118,332 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Quipt Home Medical by 207.3% in the second quarter. Jane Street Group LLC now owns 163,175 shares of the company’s stock worth $293,000 after buying an additional 110,070 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Quipt Home Medical Price Performance

Shares of NASDAQ:QIPT opened at $3.64 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market cap of $161.87 million, a price-to-earnings ratio of -15.17 and a beta of 0.54. The business has a 50-day simple moving average of $3.58 and a two-hundred day simple moving average of $2.97. Quipt Home Medical Corp. has a fifty-two week low of $1.35 and a fifty-two week high of $3.65.

Quipt Home Medical (NASDAQ:QIPT) last announced its quarterly earnings results on Tuesday, February 10th. The company reported ($0.02) EPS 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 firm had revenue of $82.24 million during the quarter, compared to analyst estimates of $104.35 million. On average, analysts expect that Quipt Home Medical Corp. will post -0.05 earnings per share for the current year.

Quipt Home Medical Company Profile

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.