Kanen Wealth Management LLC Has $6.92 Million Stock Holdings in Quipt Home Medical Corp. (NASDAQ:QIPT)

Kanen Wealth Management LLC increased its position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) by 108.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,969,541 shares of the company's stock after purchasing an additional 1,544,529 shares during the period. Quipt Home Medical makes up about 2.8% of Kanen Wealth Management LLC's portfolio, making the stock its 12th biggest holding. Kanen Wealth Management LLC owned approximately 6.89% of Quipt Home Medical worth $6,919,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in Quipt Home Medical during the 4th quarter worth $36,000. Wells Fargo & Company MN grew its stake in shares of Quipt Home Medical by 30.9% in the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock valued at $73,000 after acquiring an additional 5,625 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Quipt Home Medical by 83.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock worth $76,000 after acquiring an additional 12,479 shares during the period. XTX Topco Ltd raised its stake 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 in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Quipt Home Medical in the 4th quarter worth about $104,000. 42.85% of the stock is currently owned by institutional investors.

Quipt Home Medical Price Performance

QIPT traded down $0.09 on Tuesday, hitting $2.07. 314,163 shares of the stock were exchanged, compared to its average volume of 374,660. The business has a 50-day moving average of $1.97 and a two-hundred day moving average of $2.46. The firm has a market capitalization of $90.06 million, a price-to-earnings ratio of -12.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 0.87. Quipt Home Medical Corp. has a 12 month low of $1.35 and a 12 month high of $4.07.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). Quipt Home Medical had a negative net margin of 2.90% and a negative return on equity of 6.70%. The business had revenue of $57.40 million during the quarter, compared to the consensus estimate of $88.29 million. Sell-side analysts forecast that Quipt Home Medical Corp. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QIPT has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Quipt Home Medical from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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 research report on Wednesday, May 14th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $1.70 price objective (down previously from $4.00) on shares of Quipt Home Medical in a research note on Tuesday, May 13th.

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.