Quipt Home Medical Corp. (NASDAQ:QIPT) Given Average Recommendation of “Buy” by Brokerages

Quipt Home Medical Corp. (NASDAQ:QIPT) has earned an average rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.25.

QIPT has been the subject of several research reports. Canaccord Genuity Group dropped their price objective on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Benchmark dropped their price target on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On Quipt Home Medical

Large investors have recently modified their holdings of the business. Forager Capital Management LLC increased its holdings in Quipt Home Medical by 77.7% in the third quarter. Forager Capital Management LLC now owns 4,192,562 shares of the company’s stock valued at $12,200,000 after purchasing an additional 1,833,590 shares during the period. Royce & Associates LP grew its position in shares of Quipt Home Medical by 15.8% in the 3rd quarter. Royce & Associates LP now owns 1,768,789 shares of the company’s stock valued at $5,165,000 after buying an additional 240,980 shares during the last quarter. Boston Partners increased its stake in shares of Quipt Home Medical by 12.8% in the first quarter. Boston Partners now owns 742,006 shares of the company’s stock valued at $3,243,000 after buying an additional 84,182 shares during the period. Verition Fund Management LLC raised its position in shares of Quipt Home Medical by 207.5% during the third quarter. Verition Fund Management LLC now owns 78,950 shares of the company’s stock worth $231,000 after acquiring an additional 53,275 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Quipt Home Medical by 79.2% in the third quarter. Barclays PLC now owns 87,425 shares of the company’s stock worth $256,000 after acquiring an additional 38,635 shares during the period. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Price Performance

QIPT stock opened at $2.45 on Wednesday. The firm has a 50-day moving average price of $2.75 and a 200-day moving average price of $3.08. Quipt Home Medical has a 12 month low of $2.43 and a 12 month high of $5.29. The company has a current ratio of 1.11, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $105.57 million, a P/E ratio of -22.27 and a beta of 0.62.

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.