Quipt Home Medical (NASDAQ:QIPT) Given New $2.30 Price Target at Canaccord Genuity Group

Quipt Home Medical (NASDAQ:QIPT) had its target price hoisted by Canaccord Genuity Group from $1.70 to $2.30 in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Quipt Home Medical from a “sell” rating to a “hold” rating in a research report on Saturday. Benchmark restated a “buy” rating and issued a $4.00 price objective (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.15.

Quipt Home Medical Price Performance

QIPT opened at $2.17 on Tuesday. 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 has a 12 month low of $1.35 and a 12 month high of $3.27. The company has a fifty day simple moving average of $2.02 and a 200 day simple moving average of $2.17. The stock has a market cap of $94.26 million, a P/E ratio of -9.04 and a beta of 0.59.

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

Hedge Funds Weigh In On Quipt Home Medical

Large investors have recently modified their holdings of the business. Diversify Advisory Services LLC acquired a new position in shares of Quipt Home Medical during the 2nd quarter worth about $29,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Quipt Home Medical during the 2nd quarter worth about $31,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $34,000. ProShare Advisors LLC bought a new stake in shares of Quipt Home Medical in the 4th quarter valued at about $36,000. Finally, XTX Topco Ltd bought a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $70,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.