Analysts Set Quipt Home Medical Corp. (NASDAQ:QIPT) Price Target at $6.25

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.25.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group decreased their target price on 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. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Benchmark lowered their target price on shares of Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 21st.

Quipt Home Medical Price Performance

QIPT opened at $2.63 on Friday. The stock’s 50 day moving average price is $2.79 and its 200-day moving average price is $3.18. Quipt Home Medical has a 52-week low of $2.57 and a 52-week high of $5.29. The stock has a market capitalization of $113.33 million, a PE ratio of -23.91 and a beta of 0.60. 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) last posted its earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. The company had revenue of $63.97 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts predict that Quipt Home Medical will post -0.1 EPS for the current 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 QIPT. ProShare Advisors LLC purchased a new position in shares of Quipt Home Medical in the second quarter worth $35,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Quipt Home Medical in the 1st quarter worth about $50,000. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $57,000 after acquiring an additional 2,640 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Quipt Home Medical during the 3rd quarter valued at about $44,000. Finally, Rhumbline Advisers grew its stake 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 worth $159,000 after acquiring an additional 8,541 shares during the period. 42.85% of the stock is owned by institutional investors.

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.