Quipt Home Medical (NASDAQ:QIPT) Stock Rating Lowered by Stifel Canada

Quipt Home Medical (NASDAQ:QIPT) was downgraded by equities researchers at Stifel Canada from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group increased their price target on shares of Quipt Home Medical from $1.70 to $2.30 and gave the stock a “hold” rating in a report on Tuesday, August 19th. Benchmark reissued a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Quipt Home Medical in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $3.15.

Quipt Home Medical Price Performance

Quipt Home Medical stock opened at $3.52 on Monday. The business has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $2.32. Quipt Home Medical has a 52 week low of $1.35 and a 52 week high of $3.54. The stock has a market cap of $152.92 million, a price-to-earnings ratio of -14.08 and a beta of 0.59. The company has a quick ratio of 0.75, a current ratio of 1.15 and a debt-to-equity ratio of 0.71.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Monday, December 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). The business had revenue of $68.30 million for the quarter, compared to the consensus estimate of $87.46 million. Quipt Home Medical had a negative net margin of 4.38% and a negative return on equity of 10.32%. On average, research analysts forecast that Quipt Home Medical will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quipt Home Medical

Large investors have recently modified their holdings of the stock. Kanen Wealth Management LLC increased its stake 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 in the last quarter. Nuveen LLC bought a new stake in shares of Quipt Home Medical in the first quarter worth $350,000. Russell Investments Group Ltd. increased its position in Quipt Home Medical by 6.5% during the first quarter. Russell Investments Group Ltd. now owns 969,822 shares of the company’s stock valued at $2,260,000 after acquiring an additional 59,204 shares during the last quarter. Pale Fire Capital SE bought a new position in Quipt Home Medical in the first quarter valued at about $574,000. Finally, Jane Street Group LLC purchased a new position in Quipt Home Medical in the first quarter worth about $124,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Company Profile

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.