Quipt Home Medical Corp. (NASDAQ:QIPT) to Post FY2024 Earnings of $0.02 Per Share, Echelon Wealth Partners Forecasts

Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) - Echelon Wealth Partners dropped their FY2024 earnings per share estimates for Quipt Home Medical in a note issued to investors on Thursday, May 16th. Echelon Wealth Partners analyst S. Quenneville now anticipates that the company will post earnings per share of $0.02 for the year, down from their prior estimate of $0.09. The consensus estimate for Quipt Home Medical's current full-year earnings is $0.02 per share.

Other research analysts also recently issued reports about the company. Raymond James downgraded Quipt Home Medical from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $10.00 to $2.50 in a research note on Friday. Canaccord Genuity Group reduced their price target on Quipt Home Medical from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday. Stifel Nicolaus reduced their price target on Quipt Home Medical from $10.50 to $9.50 and set a "buy" rating for the company in a research note on Friday. Finally, Benchmark reduced their price target on Quipt Home Medical from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Monday.

Quipt Home Medical Stock Up 2.5 %

Quipt Home Medical stock traded up $0.08 during midday trading on Monday, reaching $3.23. The stock had a trading volume of 611,457 shares, compared to its average volume of 166,579. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.79 and a current ratio of 1.13. The firm's fifty day simple moving average is $3.97 and its 200-day simple moving average is $4.45. The stock has a market capitalization of $137.50 million, a P/E ratio of -32.30 and a beta of 0.68. Quipt Home Medical has a 1-year low of $2.96 and a 1-year high of $6.01.

Hedge Funds Weigh In On Quipt Home Medical

A number of institutional investors have recently modified their holdings of the business. Barclays PLC increased its holdings in Quipt Home Medical by 112.9% in the 3rd quarter. Barclays PLC now owns 29,665 shares of the company's stock worth $152,000 after purchasing an additional 15,728 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Quipt Home Medical by 83.5% in the 3rd quarter. Hsbc Holdings PLC now owns 32,698 shares of the company's stock valued at $166,000 after buying an additional 14,875 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Quipt Home Medical in the 4th quarter valued at about $70,000. First Eagle Investment Management LLC grew its position in shares of Quipt Home Medical by 37.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 597,037 shares of the company's stock valued at $3,039,000 after buying an additional 164,202 shares during the last quarter. Finally, Perritt Capital Management Inc. boosted its position in shares of Quipt Home Medical by 1.7% during the 3rd quarter. Perritt Capital Management Inc. now owns 215,500 shares of the company's stock valued at $1,097,000 after purchasing an additional 3,698 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

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.