Quipt Home Medical (NASDAQ:QIPT) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Quipt Home Medical (NASDAQ:QIPT – Get Rating) released its quarterly earnings data on Monday. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.11, MarketWatch Earnings reports. Quipt Home Medical had a negative return on equity of 4.36% and a negative net margin of 8.86%. During the same period in the previous year, the firm posted $0.02 EPS.

NASDAQ:QIPT traded up $0.45 during trading hours on Tuesday, hitting $4.85. 1,882 shares of the stock traded hands, compared to its average volume of 61,021. The company has a quick ratio of 1.38, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. Quipt Home Medical has a 1 year low of $4.00 and a 1 year high of $7.72. The company has a market cap of $162.77 million and a price-to-earnings ratio of -15.16. The stock has a 50 day moving average price of $4.50 and a 200 day moving average price of $5.19.

QIPT has been the topic of several analyst reports. Raymond James set a $9.00 price target on shares of Quipt Home Medical and gave the stock an “outperform” rating in a research note on Thursday, April 28th. Zacks Investment Research upgraded Quipt Home Medical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Quipt Home Medical presently has a consensus rating of “Buy” and a consensus target price of $9.30.

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada purchased a new position in Quipt Home Medical in the 2nd quarter worth approximately $35,000. Marshall Wace LLP purchased a new position in Quipt Home Medical in the 4th quarter worth approximately $89,000. Acadian Asset Management LLC lifted its holdings in Quipt Home Medical by 1,709,900.0% in the 1st quarter. Acadian Asset Management LLC now owns 17,100 shares of the company’s stock worth $75,000 after purchasing an additional 17,099 shares in the last quarter. Citadel Advisors LLC purchased a new position in Quipt Home Medical during the fourth quarter valued at $97,000. Finally, Bank of America Corp DE grew its stake in Quipt Home Medical by 196.7% during the fourth quarter. Bank of America Corp DE now owns 18,545 shares of the company’s stock valued at $104,000 after acquiring an additional 12,295 shares in the last quarter. Institutional investors and hedge funds own 19.42% of the company’s stock.

Quipt Home Medical Company Profile (Get Rating)

Quipt Home Medical Corp. provides in-home medical equipment and supplies, and respiratory and durable medical equipment in the United States. The company also offers management of various chronic disease states focusing on patients with heart and pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions.

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