Canaccord Genuity Group Forecasts Strong Price Appreciation for Quipt Home Medical (NASDAQ:QIPT) Stock

Key Points

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Quipt Home Medical (NASDAQ:QIPT - Free Report) had its target price lifted by Canaccord Genuity Group from $1.70 to $2.30 in a report released on Tuesday morning, Marketbeat reports. They currently have a hold rating on the stock.

A number of other research analysts also recently issued reports on QIPT. Wall Street Zen raised shares of Quipt Home Medical from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Benchmark restated a "buy" rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $3.15.

Quipt Home Medical Stock Up 1.4%

Shares of Quipt Home Medical stock traded up $0.03 on Tuesday, reaching $2.15. The stock had a trading volume of 125,873 shares, compared to its average volume of 307,233. The company has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.16. The company has a quick ratio of 0.75, a current ratio of 1.15 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 stock has a market capitalization of $93.40 million, a P/E ratio of -8.96 and a beta of 0.59.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last issued 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). Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%.The firm had revenue of $58.30 million during the quarter, compared to analysts' expectations of $80.37 million. As a group, equities research analysts forecast that Quipt Home Medical will post -0.05 EPS for the current year.

Institutional Trading of Quipt Home Medical

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Quipt Home Medical by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 512,304 shares of the company's stock valued at $1,563,000 after purchasing an additional 4,242 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Quipt Home Medical by 30.9% in the 4th quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock valued at $73,000 after purchasing an additional 5,625 shares during the period. Northern Trust Corp lifted its stake in shares of Quipt Home Medical by 2.8% in the 4th quarter. Northern Trust Corp now owns 257,402 shares of the company's stock valued at $785,000 after purchasing an additional 7,095 shares during the period. Barclays PLC lifted its stake in shares of Quipt Home Medical by 9.7% in the 4th quarter. Barclays PLC now owns 95,916 shares of the company's stock valued at $293,000 after purchasing an additional 8,491 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Quipt Home Medical by 13.5% in the 4th quarter. Bank of America Corp DE now owns 81,770 shares of the company's stock valued at $249,000 after purchasing an additional 9,757 shares during the period. 42.85% of the stock is owned by hedge funds and other 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.