Quipt Home Medical (NASDAQ:QIPT) Cut to “Strong Sell” at Stifel Canada

Quipt Home Medical (NASDAQ:QIPT) was downgraded by equities researchers at Stifel Canada from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group upped 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quipt Home Medical in a research note on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Quipt Home Medical in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Quipt Home Medical has a consensus rating of “Reduce” and a consensus target price of $3.15.

Quipt Home Medical Price Performance

Shares of Quipt Home Medical stock opened at $3.52 on Monday. Quipt Home Medical has a one year low of $1.35 and a one year high of $3.54. The stock’s fifty day moving average is $2.47 and its 200 day moving average is $2.32. The stock has a market cap of $152.92 million, a P/E ratio of -14.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.75 and a current ratio of 1.15.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings results on Monday, December 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.11). Quipt Home Medical had a negative net margin of 4.38% and a negative return on equity of 10.32%. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $87.46 million. Sell-side analysts anticipate that Quipt Home Medical will post -0.05 earnings per share for the current year.

Institutional Trading of Quipt Home Medical

Several hedge funds have recently modified their holdings of QIPT. Vanguard Group Inc. purchased a new stake in shares of Quipt Home Medical during the 3rd quarter valued at about $4,539,000. Kanen Wealth Management LLC grew its holdings in Quipt Home Medical by 108.4% during the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after purchasing an additional 1,544,529 shares during the last quarter. Pale Fire Capital SE purchased a new stake in Quipt Home Medical in the 1st quarter worth about $574,000. Strs Ohio bought a new stake in Quipt Home Medical in the first quarter worth about $452,000. Finally, Nuveen LLC purchased a new position in shares of Quipt Home Medical during the first quarter valued at approximately $350,000. 42.85% of the stock is owned by hedge funds and other 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.