Nuveen LLC Buys Shares of 150,046 Quipt Home Medical Corp. $QIPT

Nuveen LLC bought a new stake in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) during the 1st quarter, HoldingsChannel.com reports. The firm bought 150,046 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds have also made changes to their positions in the stock. Kanen Wealth Management LLC lifted its position in shares of 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 purchasing an additional 1,544,529 shares in the last quarter. First Manhattan CO. LLC. lifted its position in shares of Quipt Home Medical by 3.1% in the fourth quarter. First Manhattan CO. LLC. now owns 1,650,000 shares of the company’s stock worth $5,032,000 after purchasing an additional 50,000 shares in the last quarter. Northern Trust Corp lifted its position in shares of Quipt Home Medical by 2.8% in the fourth quarter. Northern Trust Corp now owns 257,402 shares of the company’s stock worth $785,000 after purchasing an additional 7,095 shares in the last quarter. Barclays PLC lifted its position in shares of Quipt Home Medical by 9.7% in the fourth quarter. Barclays PLC now owns 95,916 shares of the company’s stock worth $293,000 after purchasing an additional 8,491 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Quipt Home Medical by 13.5% in the fourth quarter. Bank of America Corp DE now owns 81,770 shares of the company’s stock worth $249,000 after purchasing an additional 9,757 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QIPT shares. Wall Street Zen raised shares of Quipt Home Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Benchmark reissued a “buy” rating and issued a $4.00 price target (down from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th. Finally, Canaccord Genuity Group increased their price target on shares of Quipt Home Medical from $1.70 to $2.30 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.15.

Quipt Home Medical Trading Down 0.4%

Shares of NASDAQ:QIPT opened at $2.59 on Friday. The stock has a market capitalization of $112.51 million, a PE ratio of -10.79 and a beta of 0.60. Quipt Home Medical Corp. has a 1 year low of $1.35 and a 1 year high of $3.27. The firm has a fifty day moving average price of $2.17 and a 200 day moving average price of $2.14. The company has a current ratio of 1.15, a quick ratio of 0.75 and a debt-to-equity ratio of 0.71.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $80.37 million. Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%. Analysts expect that Quipt Home Medical Corp. will post -0.05 EPS for the current fiscal year.

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.