Nuveen LLC Invests $350,000 in Quipt Home Medical Corp. $QIPT

Key Points

• Nuveen LLC has acquired a new position in Quipt Home Medical Corp. by purchasing 150,046 shares valued at approximately $350,000.
• Quipt Home Medical reported a quarterly loss of ($0.07) EPS, missing expectations; total revenue for the quarter was $58.30 million, significantly below analysts' estimates.
• Analysts have reissued ratings on QIPT, with Benchmark lowering its price target to $4.00, while Canaccord Genuity raised theirs to $2.30.

Nuveen LLC bought a new position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 150,046 shares of the company's stock, valued at approximately $350,000. Nuveen LLC owned approximately 0.35% of Quipt Home Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 worth $6,919,000 after purchasing an additional 1,544,529 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Quipt Home Medical by 30.9% during the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock worth $73,000 after buying an additional 5,625 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Quipt Home Medical during the fourth quarter worth about $137,000. Bank of America Corp DE grew its holdings in shares of Quipt Home Medical by 13.5% during the fourth quarter. Bank of America Corp DE now owns 81,770 shares of the company's stock worth $249,000 after buying an additional 9,757 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Quipt Home Medical by 2.8% during the fourth quarter. Northern Trust Corp now owns 257,402 shares of the company's stock worth $785,000 after buying an additional 7,095 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

Analyst Ratings Changes

QIPT has been the topic of a number of research reports. Benchmark reissued a "buy" rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th. Canaccord Genuity Group raised their price target on Quipt Home Medical from $1.70 to $2.30 and gave the stock a "hold" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen raised Quipt Home Medical from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Quipt Home Medical presently has an average rating of "Moderate Buy" and a consensus price target of $3.15.

Quipt Home Medical Stock Performance

QIPT traded up $0.05 during trading on Thursday, reaching $2.68. The company's stock had a trading volume of 244,200 shares, compared to its average volume of 785,259. Quipt Home Medical Corp. has a 52-week low of $1.35 and a 52-week high of $3.27. The company's fifty day moving average price is $2.24 and its 200-day moving average price is $2.14. The company has a market capitalization of $116.42 million, a price-to-earnings ratio of -11.17 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.75 and a current ratio of 1.15.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Quipt Home Medical had a negative net margin of 4.30% and a negative return on equity of 9.78%. The business had revenue of $58.30 million during the quarter, compared to analysts' expectations of $80.37 million. On average, equities analysts forecast that Quipt Home Medical Corp. will post -0.05 earnings per share for the current fiscal year.

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.