150,046 Shares in Quipt Home Medical Corp. $QIPT Purchased by Nuveen LLC

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 acquired a new position in Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,046 shares of the company's stock, valued at approximately $350,000. Nuveen LLC owned 0.35% of Quipt Home Medical as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Kanen Wealth Management LLC raised its holdings in 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. ProShare Advisors LLC bought a new stake in Quipt Home Medical during the fourth quarter worth approximately $36,000. First Manhattan CO. LLC. raised its holdings in Quipt Home Medical by 3.1% during the fourth quarter. First Manhattan CO. LLC. now owns 1,650,000 shares of the company's stock worth $5,032,000 after purchasing an additional 50,000 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in Quipt Home Medical during the fourth quarter worth approximately $141,000. Finally, Bank of America Corp DE raised its holdings in 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 purchasing an additional 9,757 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

Quipt Home Medical Price Performance

NASDAQ QIPT opened at $2.59 on Friday. The stock's 50-day moving average price is $2.17 and its two-hundred day moving average price is $2.14. The company has a current ratio of 1.15, a quick ratio of 0.75 and a debt-to-equity ratio of 0.71. The company has a market cap of $112.51 million, a PE ratio of -10.79 and a beta of 0.60. Quipt Home Medical Corp. has a 1 year low of $1.35 and a 1 year high of $3.27.

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

Analysts Set New Price Targets

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

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.

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