Pale Fire Capital SE Takes $574,000 Position in Quipt Home Medical Corp. $QIPT

Key Points

• Pale Fire Capital SE has acquired 246,496 shares of Quipt Home Medical Corp., valued at approximately $574,000, representing about 0.1% of its total holdings.
• Quipt Home Medical reported a loss of ($0.07) per share for the last quarter, significantly missing the consensus estimate of $0.03, with revenues of $58.30 million compared to expectations of $80.37 million.
• Analysts have varied views on Quipt Home Medical, with Canaccord Genuity increasing its price target to $2.30 and Benchmark maintaining a "buy" rating but lowering its target from $6.00 to $4.00.

Pale Fire Capital SE 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 13F filing with the SEC. The fund acquired 246,496 shares of the company's stock, valued at approximately $574,000. Quipt Home Medical comprises approximately 0.1% of Pale Fire Capital SE's investment portfolio, making the stock its 29th largest position. Pale Fire Capital SE owned 0.57% of Quipt Home Medical as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of QIPT. ProShare Advisors LLC bought a new position in Quipt Home Medical in the 4th quarter worth approximately $36,000. Wells Fargo & Company MN raised its position in Quipt Home Medical by 30.9% in the 4th quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock worth $73,000 after purchasing an additional 5,625 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in Quipt Home Medical by 83.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock worth $76,000 after purchasing an additional 12,479 shares during the last quarter. XTX Topco Ltd raised its position in Quipt Home Medical by 54.3% in the 4th quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock worth $87,000 after purchasing an additional 10,015 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Quipt Home Medical in the 4th quarter worth approximately $113,000. Institutional investors own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QIPT. Benchmark restated a "buy" rating and issued a $4.00 price objective (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th. Canaccord Genuity Group upped their target price on shares of Quipt Home Medical from $1.70 to $2.30 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Quipt Home Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3.15.

Quipt Home Medical Trading Up 0.6%

Shares of Quipt Home Medical stock traded up $0.02 on Friday, hitting $2.65. 67,085 shares of the company's stock traded hands, compared to its average volume of 579,479. The firm's 50-day moving average price is $2.09 and its two-hundred day moving average price is $2.15. The stock has a market capitalization of $114.90 million, a PE ratio of -11.02 and a beta of 0.59. Quipt Home Medical Corp. has a one year low of $1.35 and a one year high of $3.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 0.75.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last announced its quarterly earnings results 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). Quipt Home Medical had a negative net margin of 4.30% and a negative return on equity of 9.78%. The firm had revenue of $58.30 million during the quarter, compared to analyst estimates of $80.37 million. On average, research analysts expect that Quipt Home Medical Corp. will post -0.05 EPS 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.