Quipt Home Medical (NASDAQ:QIPT) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Quipt Home Medical (NASDAQ:QIPT) announced its earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05), Zacks reports. Quipt Home Medical had a negative return on equity of 3.89% and a negative net margin of 1.71%. The company had revenue of $63.97 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same quarter last year, the firm posted ($0.03) earnings per share.

Quipt Home Medical Trading Down 18.0 %

NASDAQ:QIPT traded down $0.60 during midday trading on Thursday, reaching $2.74. 1,223,529 shares of the stock traded hands, compared to its average volume of 192,548. The stock has a market capitalization of $116.65 million, a P/E ratio of -27.40 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 1.14. The company has a fifty day moving average of $3.31 and a 200 day moving average of $3.78. Quipt Home Medical has a 12 month low of $2.72 and a 12 month high of $6.01.

Analyst Upgrades and Downgrades

QIPT has been the subject of a number of research reports. Ventum Cap Mkts upgraded Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th. Eight Capital raised shares of Quipt Home Medical to a “strong-buy” rating in a research note on Friday, May 17th. Benchmark cut their price objective on shares of Quipt Home Medical from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Canaccord Genuity Group decreased their target price on shares of Quipt Home Medical from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Finally, 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 report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $7.25.

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.