Quipt Home Medical (NASDAQ:QIPT) Issues Earnings Results

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) announced its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10), Zacks reports. The company had revenue of $58.30 million for the quarter, compared to analysts' expectations of $80.37 million. Quipt Home Medical had a negative net margin of 4.30% and a negative return on equity of 9.78%.

Quipt Home Medical Price Performance

Shares of Quipt Home Medical stock traded up $0.04 on Friday, hitting $2.03. 6,494 shares of the company traded hands, compared to its average volume of 533,516. The stock has a market capitalization of $87.97 million, a P/E ratio of -8.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.85 and a current ratio of 1.15. Quipt Home Medical has a 52 week low of $1.35 and a 52 week high of $3.27. The business has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $2.20.

Institutional Investors Weigh In On Quipt Home Medical

Several large investors have recently bought and sold shares of the business. Diversify Advisory Services LLC purchased a new position in Quipt Home Medical during the second quarter worth $29,000. XTX Topco Ltd purchased a new stake in Quipt Home Medical in the second quarter worth about $70,000. Qube Research & Technologies Ltd purchased a new stake in Quipt Home Medical in the second quarter worth about $116,000. Jane Street Group LLC bought a new position in Quipt Home Medical in the first quarter worth about $124,000. Finally, Marshall Wace LLP bought a new position in Quipt Home Medical in the second quarter worth about $162,000. Institutional investors own 42.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QIPT. Canaccord Genuity Group reaffirmed a "hold" rating and set a $1.70 price target (down previously from $4.00) on shares of Quipt Home Medical in a report on Tuesday, May 13th. Benchmark reaffirmed 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. Finally, Wall Street Zen downgraded shares of Quipt Home Medical from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

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.