Quipt Home Medical (NASDAQ:QIPT) Downgraded by Wall Street Zen to "Sell"

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Thursday.

QIPT has been the topic of a number of other research reports. Canaccord Genuity Group restated a "hold" rating and issued a $1.70 price objective (down previously from $4.00) on shares of Quipt Home Medical in a report on Tuesday, May 13th. Benchmark reiterated a "buy" rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th.

Quipt Home Medical Stock Performance

QIPT stock remained flat at $1.81 during midday trading on Thursday. The company's stock had a trading volume of 341,595 shares, compared to its average volume of 354,288. The firm has a 50-day moving average price of $2.06 and a two-hundred day moving average price of $2.50. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74. The stock has a market cap of $77.78 million, a P/E ratio of -10.62 and a beta of 0.65. Quipt Home Medical 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 announced its quarterly earnings data on Monday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The firm had revenue of $57.40 million during the quarter, compared to analysts' expectations of $88.29 million. Quipt Home Medical had a negative net margin of 2.90% and a negative return on equity of 6.70%. Sell-side analysts predict that Quipt Home Medical will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QIPT. ProShare Advisors LLC purchased a new position in shares of Quipt Home Medical during the 4th quarter worth $36,000. Wells Fargo & Company MN raised its holdings in shares of Quipt Home Medical by 30.9% during the 4th quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock worth $73,000 after acquiring an additional 5,625 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Quipt Home Medical by 83.4% during the 4th 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 holdings in Quipt Home Medical by 54.3% in the 4th quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock valued at $87,000 after buying an additional 10,015 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Quipt Home Medical by 68.7% in the third quarter. JPMorgan Chase & Co. now owns 30,403 shares of the company's stock valued at $89,000 after buying an additional 12,383 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

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.