Quipt Home Medical (NASDAQ:QIPT) Shares Down 2.8% - What's Next?

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report)'s share price was down 2.8% during mid-day trading on Monday . The stock traded as low as $1.72 and last traded at $1.73. Approximately 436,335 shares changed hands during trading, an increase of 9% from the average daily volume of 400,867 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QIPT shares. Canaccord Genuity Group reiterated a "hold" rating and set a $1.70 target price (down from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Quipt Home Medical from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Benchmark reiterated a "buy" rating and set a $4.00 target price (down from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th.

Quipt Home Medical Price Performance

The stock has a market capitalization of $78.19 million, a PE ratio of -8.57 and a beta of 0.56. The firm's 50 day simple moving average is $1.90 and its 200 day simple moving average is $2.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.22 and a quick ratio of 0.85.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last posted its quarterly earnings results 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 net margin of 3.66% and a negative return on equity of 8.38%. The firm had revenue of $57.40 million for the quarter, compared to the consensus estimate of $88.29 million. As a group, equities analysts forecast that Quipt Home Medical Corp. will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Quipt Home Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new stake in Quipt Home Medical during the 4th quarter valued at $36,000. Wells Fargo & Company MN boosted its holdings in Quipt Home Medical by 30.9% in the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock valued at $73,000 after acquiring an additional 5,625 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Quipt Home Medical by 83.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock valued at $76,000 after acquiring an additional 12,479 shares in the last quarter. XTX Topco Ltd boosted its holdings in Quipt Home Medical by 54.3% in the fourth quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock valued at $87,000 after acquiring an additional 10,015 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Quipt Home Medical in the fourth quarter valued at $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.