Quipt Home Medical (NASDAQ:QIPT) Releases Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• Quipt Home Medical reported a quarterly earnings per share (EPS) of (0.07), falling short of analysts' estimates by $0.10.
• The company's stock price fell 0.5% on the day of the earnings release, closing at $2.12 with a market cap of $92.09 million.
• Kanen Wealth Management LLC increased its stake in Quipt by 108.4%, now owning 2.8% of the company's stock.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10), Zacks reports. Quipt Home Medical had a negative net margin of 3.66% and a negative return on equity of 8.38%.

Quipt Home Medical Stock Down 0.5%

Shares of Quipt Home Medical stock traded down $0.01 on Monday, hitting $2.12. 319,633 shares of the company's stock traded hands, compared to its average volume of 270,427. The stock has a market cap of $92.09 million, a P/E ratio of -10.09 and a beta of 0.59. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.76. The firm's 50-day moving average is $2.01 and its 200 day moving average is $2.21. Quipt Home Medical has a 52-week low of $1.35 and a 52-week high of $3.37.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QIPT. Wall Street Zen downgraded shares of Quipt Home Medical from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group reissued a "hold" rating and set a $1.70 target price (down previously from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. Finally, Benchmark reissued a "buy" rating and set a $4.00 target price (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th.

Hedge Funds Weigh In On Quipt Home Medical

A hedge fund recently raised its stake in Quipt Home Medical stock. Kanen Wealth Management LLC increased its position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT - Free Report) by 108.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,969,541 shares of the company's stock after purchasing an additional 1,544,529 shares during the quarter. Quipt Home Medical accounts for about 2.8% of Kanen Wealth Management LLC's investment portfolio, making the stock its 12th largest holding. Kanen Wealth Management LLC owned about 6.83% of Quipt Home Medical worth $6,919,000 at the end of the most recent quarter. Institutional investors 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.

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