Quipt Home Medical (NASDAQ:QIPT) Trading Up 0.3% – Time to Buy?

Quipt Home Medical Corp. (NASDAQ:QIPT)’s share price rose 0.3% during trading on Tuesday . The company traded as high as $3.64 and last traded at $3.64. Approximately 816,511 shares traded hands during mid-day trading, an increase of 154% from the average daily volume of 321,028 shares. The stock had previously closed at $3.63.

Analyst Ratings Changes

QIPT has been the topic of a number of research analyst reports. Stifel Nicolaus cut shares of Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, December 15th. Benchmark reiterated a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quipt Home Medical in a research note on Monday, December 29th. Finally, Canaccord Genuity Group set a $3.65 target price on Quipt Home Medical in a report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $3.83.

Quipt Home Medical Trading Up 0.3%

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 stock has a market capitalization of $162.32 million, a price-to-earnings ratio of -15.21 and a beta of 0.54. The company’s 50-day moving average is $3.58 and its 200-day moving average is $2.93.

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

Institutional Trading of Quipt Home Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kanen Wealth Management LLC increased its position in shares of Quipt Home Medical by 108.4% during the first quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after acquiring an additional 1,544,529 shares during the last quarter. Glazer Capital LLC purchased a new position in shares of Quipt Home Medical in the 4th quarter valued at about $6,915,000. Vanguard Group Inc. acquired a new position in shares of Quipt Home Medical during the third quarter worth about $4,539,000. Franklin Resources Inc. increased its stake in shares of Quipt Home Medical by 8.6% during the third quarter. Franklin Resources Inc. now owns 895,398 shares of the company’s stock worth $2,337,000 after buying an additional 71,274 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in shares of Quipt Home Medical during the fourth quarter worth approximately $2,669,000. 42.85% of the stock is owned by institutional investors and hedge funds.

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.