Quipt Home Medical (NASDAQ:QIPT) Upgraded at Wall Street Zen

Key Points

• Quipt Home Medical's stock was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, signaling a shift in analyst sentiment.
• The company recently reported a quarterly loss of ($0.07) EPS, significantly missing the consensus estimate of $0.03, with revenue also falling short of expectations at $58.30 million.
• Recent institutional investments include multiple new positions, indicating growing interest, as large investors now own approximately 42.85% of Quipt Home Medical's stock.

Wall Street Zen upgraded shares of Quipt Home Medical (NASDAQ:QIPT - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

QIPT has been the subject of a number of other research reports. Canaccord Genuity Group reissued a "hold" rating and issued a $1.70 target price (down previously from $4.00) on shares of Quipt Home Medical in a research note on Tuesday, May 13th. Benchmark reiterated a "buy" rating and set a $4.00 target price (down previously from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Quipt Home Medical presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.15.

Quipt Home Medical Stock Performance

Quipt Home Medical stock traded down $0.0250 during mid-day trading on Friday, reaching $2.2350. 115,593 shares of the company's stock were exchanged, compared to its average volume of 531,491. The company has a quick ratio of 0.75, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The business's fifty day simple moving average is $2.02 and its 200 day simple moving average is $2.17. Quipt Home Medical has a one year low of $1.35 and a one year high of $3.27. The firm has a market capitalization of $97.09 million, a PE ratio of -9.23 and a beta of 0.59.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The company had revenue of $58.30 million during 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%. On average, sell-side analysts expect that Quipt Home Medical will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QIPT. Kanen Wealth Management LLC raised its stake in Quipt Home Medical by 108.4% in the first quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company's stock worth $6,919,000 after buying an additional 1,544,529 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Quipt Home Medical during the 1st quarter valued at about $574,000. Strs Ohio purchased a new stake in shares of Quipt Home Medical in the 1st quarter valued at approximately $452,000. Nuveen LLC purchased a new stake in shares of Quipt Home Medical in the 1st quarter valued at approximately $350,000. Finally, Franklin Resources Inc. boosted its position in shares of Quipt Home Medical by 16.8% during the 2nd quarter. Franklin Resources Inc. now owns 824,124 shares of the company's stock worth $1,475,000 after purchasing an additional 118,332 shares during the period. 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.