Quipt Home Medical Corp. (NASDAQ:QIPT) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC cut its position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 953,265 shares of the company’s stock after selling 6,718 shares during the quarter. Kennedy Capital Management LLC’s holdings in Quipt Home Medical were worth $4,166,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QIPT. Price T Rowe Associates Inc. MD raised its holdings in shares of Quipt Home Medical by 25.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock worth $57,000 after acquiring an additional 2,640 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Quipt Home Medical by 141.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,755 shares of the company’s stock worth $34,000 after acquiring an additional 3,956 shares during the last quarter. Bridge City Capital LLC raised its holdings in shares of Quipt Home Medical by 17.9% in the first quarter. Bridge City Capital LLC now owns 47,721 shares of the company’s stock worth $209,000 after acquiring an additional 7,244 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Quipt Home Medical by 37.0% in the fourth quarter. Raymond James & Associates now owns 37,000 shares of the company’s stock worth $188,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Connors Investor Services Inc. raised its holdings in shares of Quipt Home Medical by 26.7% in the first quarter. Connors Investor Services Inc. now owns 52,208 shares of the company’s stock worth $228,000 after acquiring an additional 11,000 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QIPT. Raymond James cut Quipt Home Medical from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $2.50 in a report on Friday, May 17th. Eight Capital upgraded Quipt Home Medical to a “strong-buy” rating in a research note on Friday, May 17th. Ventum Cap Mkts upgraded Quipt Home Medical to a “strong-buy” rating in a research note on Tuesday, July 16th. Benchmark dropped their target price on 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. Finally, Canaccord Genuity Group dropped their target price on Quipt Home Medical from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 17th. 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 stock. According to data from MarketBeat.com, Quipt Home Medical has a consensus rating of “Buy” and an average price target of $7.25.

Quipt Home Medical Trading Up 0.5 %

QIPT stock traded up $0.02 during trading on Tuesday, reaching $3.93. 201,557 shares of the stock traded hands, compared to its average volume of 187,469. The business’s 50 day moving average price is $3.27 and its 200-day moving average price is $3.88. Quipt Home Medical Corp. has a 52-week low of $2.85 and a 52-week high of $6.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market capitalization of $167.30 million, a PE ratio of -38.40 and a beta of 0.63.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). The business had revenue of $63.95 million during the quarter, compared to analysts’ expectations of $64.27 million. Quipt Home Medical had a negative net margin of 1.71% and a negative return on equity of 3.89%.

Quipt Home Medical 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.