Quipt Home Medical (NASDAQ:QIPT) Releases Earnings Results, Beats Expectations By $0.08 EPS

Quipt Home Medical (NASDAQ:QIPT) announced its earnings results on Monday. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08, Zacks reports. Quipt Home Medical had a negative return on equity of 10.13% and a negative net margin of 4.38%.

Quipt Home Medical Stock Performance

QIPT stock traded up $0.01 during mid-day trading on Tuesday, reaching $3.57. The company had a trading volume of 21,838 shares, compared to its average volume of 519,272. Quipt Home Medical has a one year low of $1.35 and a one year high of $3.61. The stock has a market capitalization of $156.97 million, a P/E ratio of -14.26 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 1.05 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $3.36 and its two-hundred day simple moving average is $2.76.

Hedge Funds Weigh In On Quipt Home Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QIPT. Diversify Advisory Services LLC purchased a new position in shares of Quipt Home Medical during the 2nd quarter valued at $29,000. XTX Topco Ltd acquired a new position in Quipt Home Medical in the 2nd quarter worth about $70,000. Qube Research & Technologies Ltd purchased a new stake in shares of Quipt Home Medical during the 2nd quarter worth about $116,000. Jane Street Group LLC acquired a new stake in shares of Quipt Home Medical during the 1st quarter valued at about $124,000. Finally, Marshall Wace LLP bought a new stake in shares of Quipt Home Medical in the 2nd quarter valued at approximately $162,000. 42.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group set a $3.65 price target on shares of Quipt Home Medical in a report on Wednesday, December 17th. Stifel Nicolaus downgraded Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, December 15th. Benchmark reaffirmed a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quipt Home Medical in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $3.83.

About Quipt Home Medical

Quipt Home Medical (NASDAQ: QIPT) is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.