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 purchased a new position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 246,496 shares of the company's stock, valued at approximately $574,000. Quipt Home Medical makes up about 0.1% of Pale Fire Capital SE's portfolio, making the stock its 29th biggest holding. Pale Fire Capital SE owned 0.57% of Quipt Home Medical at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of QIPT. ProShare Advisors LLC bought a new position in Quipt Home Medical during the fourth quarter worth about $36,000. Wells Fargo & Company MN raised its holdings in Quipt Home Medical by 30.9% during 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. increased its stake in shares of Quipt Home Medical by 83.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock valued at $76,000 after acquiring an additional 12,479 shares in the last quarter. XTX Topco Ltd increased its stake in Quipt Home Medical by 54.3% during the 4th quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock valued at $87,000 after purchasing an additional 10,015 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Quipt Home Medical in the fourth quarter valued at $113,000. 42.85% of the stock is owned by institutional investors.

Quipt Home Medical Stock Up 1.1%

NASDAQ:QIPT traded up $0.03 during trading hours on Wednesday, reaching $2.65. The company had a trading volume of 831,036 shares, compared to its average volume of 788,054. 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 firm's 50 day moving average price is $2.05 and its 200-day moving average price is $2.15. Quipt Home Medical Corp. has a 52 week low of $1.35 and a 52 week 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 analysts' consensus estimates of $0.03 by ($0.10). The business had revenue of $58.30 million during the quarter, compared to analysts' expectations of $80.37 million. Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%. As a group, equities analysts expect that Quipt Home Medical Corp. will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QIPT shares. Canaccord Genuity Group boosted their price target on shares of Quipt Home Medical from $1.70 to $2.30 and gave the stock a "hold" rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of Quipt Home Medical from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Benchmark reissued a "buy" rating and issued a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average 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.