Quipt Home Medical (NASDAQ:QIPT) Given "Sell (E+)" Rating at Weiss Ratings

Key Points

• Quipt Home Medical's stock has been given a "sell (e+)" rating by Weiss Ratings, reaffirming negative sentiment around the company's performance.
• Despite a recent upgrade from Wall Street Zen to a "hold" rating, the company reported disappointing quarterly earnings, missing analysts' estimates by $0.10 per share.
• Quipt Home Medical's current market capitalization is approximately $111.22 million, and institutional investors own 42.85% of the stock.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

QIPT has been the subject of a number of other reports. 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. Canaccord Genuity Group boosted their target price on shares of Quipt Home Medical from $1.70 to $2.30 and gave the stock a "hold" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Quipt Home Medical presently has a consensus rating of "Hold" and an average target price of $3.15.

Quipt Home Medical Stock Up 0.4%

NASDAQ QIPT opened at $2.56 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.75 and a debt-to-equity ratio of 0.71. Quipt Home Medical has a 1-year low of $1.35 and a 1-year high of $3.27. The company has a 50 day moving average of $2.48 and a 200-day moving average of $2.16. The company has a market cap of $111.22 million, a price-to-earnings ratio of -10.67 and a beta of 0.60.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $58.30 million during the quarter, compared to analyst estimates of $80.37 million. On average, equities research analysts expect that Quipt Home Medical will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quipt Home Medical

A number of institutional investors have recently added to or reduced their stakes in QIPT. Diversify Advisory Services LLC bought a new position in shares of Quipt Home Medical during the 2nd quarter valued at approximately $29,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Quipt Home Medical during the 2nd quarter valued at approximately $31,000. Y Intercept Hong Kong Ltd bought a new position in shares of Quipt Home Medical during the 2nd quarter valued at approximately $34,000. XTX Topco Ltd bought a new position in shares of Quipt Home Medical during the 2nd quarter valued at approximately $70,000. Finally, Jane Street Group LLC bought a new position in shares of Quipt Home Medical during the 1st quarter valued at approximately $124,000. 42.85% of the stock is owned by institutional investors.

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.

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