Quipt Home Medical (NASDAQ:QIPT) Rating Lowered to Sell at Wall Street Zen

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

A number of other analysts have also recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $4.00 price target (down from $6.00) on shares of Quipt Home Medical in a research note on Wednesday, May 14th. 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 report on Tuesday, May 13th.

Quipt Home Medical Trading Down 6.4%

Shares of Quipt Home Medical stock traded down $0.13 on Thursday, hitting $1.83. 483,413 shares of the company's stock traded hands, compared to its average volume of 351,207. The firm's 50-day moving average price is $2.09 and its two-hundred day moving average price is $2.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 0.87. The stock has a market capitalization of $78.64 million, a PE ratio of -10.79 and a beta of 0.65. Quipt Home Medical has a one year low of $1.35 and a one year 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) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). Quipt Home Medical had a negative return on equity of 6.70% and a negative net margin of 2.90%. The company had revenue of $57.40 million for the quarter, compared to analyst estimates of $88.29 million. On average, research analysts expect that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings 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 worth $73,000 after acquiring an additional 5,625 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Quipt Home Medical by 68.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,403 shares of the company's stock valued at $89,000 after purchasing an additional 12,383 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Quipt Home Medical by 74.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 493,858 shares of the company's stock worth $1,506,000 after purchasing an additional 210,153 shares in the last quarter. Royce & Associates LP raised its holdings in Quipt Home Medical by 12.1% during the 4th quarter. Royce & Associates LP now owns 1,982,089 shares of the company's stock worth $6,045,000 after buying an additional 213,300 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Quipt Home Medical in the fourth quarter valued at approximately $113,000. 42.85% of the stock is currently 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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