Quipt Home Medical (NASDAQ:QIPT) Raised to Hold 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 report released on Saturday morning.

Several other analysts have also commented on QIPT. Benchmark restated a "buy" rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th. Canaccord Genuity Group restated a "hold" rating and set a $1.70 price target (down previously from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $3.15.

Quipt Home Medical Stock Performance

Shares of NASDAQ:QIPT traded up $0.08 during midday trading on Friday, reaching $2.25. The company's stock had a trading volume of 445,008 shares, compared to its average volume of 293,570. The firm has a market capitalization of $97.74 million, a PE ratio of -9.37 and a beta of 0.59. Quipt Home Medical has a twelve month low of $1.35 and a twelve month high of $3.27. The stock has a fifty day moving average of $2.02 and a 200 day moving average of $2.17. The company has a quick ratio of 0.75, a current ratio of 1.15 and a debt-to-equity ratio of 0.71.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). The business had revenue of $58.30 million during the quarter, compared to analyst estimates of $80.37 million. Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%. On average, equities analysts expect that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

Institutional Trading of Quipt Home Medical

Several institutional investors have recently modified their holdings of QIPT. JPMorgan Chase & Co. grew its position in shares of Quipt Home Medical by 241.3% in the fourth quarter. JPMorgan Chase & Co. now owns 103,753 shares of the company's stock valued at $316,000 after purchasing an additional 73,350 shares during the period. Geode Capital Management LLC grew its position in shares of Quipt Home Medical by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 512,304 shares of the company's stock valued at $1,563,000 after purchasing an additional 4,242 shares during the period. Wells Fargo & Company MN grew its position 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 valued at $73,000 after purchasing an additional 5,625 shares during the period. Renaissance Technologies LLC grew its position in shares of Quipt Home Medical by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 229,600 shares of the company's stock valued at $700,000 after purchasing an additional 13,300 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Quipt Home Medical in the fourth quarter valued at about $113,000. Institutional investors and hedge funds 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.