Claret Asset Management Corp Trims Position in Quipt Home Medical Corp. $QIPT

Key Points

• Claret Asset Management trimmed its stake in Quipt Home Medical (QIPT) by 6.5% in Q3, selling 276,614 shares and still holding 3,958,673 shares — about 9.11% of the company and QIPT is the firm's 22nd-largest position.
• Quipt beat EPS estimates last quarter (‑$0.02 vs. ‑$0.10) but missed on revenue ($82.24M vs. $104.35M) and remains unprofitable with a negative net margin and negative ROE.
• Analysts are mixed but cautious: the consensus rating is "Reduce" with a $3.83 target, and institutional ownership stands around 42.85% while some funds have recently increased positions.

Claret Asset Management Corp lessened its holdings in shares of Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,958,673 shares of the company's stock after selling 276,614 shares during the quarter. Quipt Home Medical makes up 1.2% of Claret Asset Management Corp's portfolio, making the stock its 22nd biggest position. Claret Asset Management Corp owned 9.11% of Quipt Home Medical worth $10,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kanen Wealth Management LLC boosted its holdings in Quipt Home Medical by 108.4% in the first quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company's stock valued at $6,919,000 after acquiring an additional 1,544,529 shares in the last quarter. Pale Fire Capital SE raised its holdings in Quipt Home Medical by 86.7% in the 2nd quarter. Pale Fire Capital SE now owns 460,303 shares of the company's stock worth $824,000 after purchasing an additional 213,807 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Quipt Home Medical by 9.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 631,112 shares of the company's stock worth $1,130,000 after purchasing an additional 52,195 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in shares of Quipt Home Medical during the 2nd quarter valued at about $31,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Quipt Home Medical during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 42.85% of the company's stock.

Quipt Home Medical Price Performance

Shares of Quipt Home Medical stock opened at $3.64 on Tuesday. Quipt Home Medical Corp. has a 1 year low of $1.35 and a 1 year high of $3.65. The firm has a market cap of $161.87 million, a price-to-earnings ratio of -15.17 and a beta of 0.54. The company has a 50-day moving average of $3.58 and a 200 day moving average of $2.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.04 and a quick ratio of 0.68.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.08. The business had revenue of $82.24 million for the quarter, compared to analyst estimates of $104.35 million. Quipt Home Medical had a negative net margin of 4.05% and a negative return on equity of 9.94%. As a group, sell-side analysts anticipate that Quipt Home Medical Corp. will post -0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QIPT shares. Canaccord Genuity Group set a $3.65 price target on shares of Quipt Home Medical in a research note on Wednesday, December 17th. Stifel Nicolaus downgraded Quipt Home Medical from a "strong-buy" rating to a "strong sell" rating in a report on Monday, December 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Quipt Home Medical in a research report on Monday, December 29th. Finally, Benchmark restated a "buy" rating on shares of Quipt Home Medical in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $3.83.

About Quipt Home Medical

Quipt Home Medical NASDAQ: QIPT is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.

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