Analysts Expect Quipt Home Medical Corp. (NASDAQ:QIPT) Will Post Quarterly Sales of $30.65 Million

Analysts expect Quipt Home Medical Corp. (NASDAQ:QIPT) to report $30.65 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Quipt Home Medical’s earnings, with the lowest sales estimate coming in at $30.30 million and the highest estimate coming in at $31.00 million. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Quipt Home Medical will report full year sales of $141.20 million for the current fiscal year, with estimates ranging from $128.10 million to $151.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $170.60 million, with estimates ranging from $140.90 million to $208.90 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Quipt Home Medical.

A number of brokerages have commented on QIPT. Benchmark began coverage on Quipt Home Medical in a research report on Wednesday, October 20th. They issued a “buy” rating and a $7.50 price target for the company. Stifel Nicolaus raised their price objective on Quipt Home Medical from C$12.40 to C$12.75 and gave the company a “buy” rating in a research note on Wednesday, November 17th. increased their price target on Quipt Home Medical from C$10.00 to C$11.00 and gave the stock a “buy” rating in a report on Friday, November 19th. Echelon Wealth Partners restated a “buy” rating on shares of Quipt Home Medical in a report on Tuesday, November 9th. Finally, Zacks Investment Research downgraded Quipt Home Medical from a “buy” rating to a “hold” rating in a report on Thursday, November 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.30.

Quipt Home Medical stock traded down $0.11 during trading hours on Friday, reaching $5.66. The company had a trading volume of 31,126 shares, compared to its average volume of 50,163. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.57. Quipt Home Medical has a 12-month low of $5.10 and a 12-month high of $8.40. The company has a 50-day moving average price of $5.88 and a 200 day moving average price of $5.92.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. increased its position in shares of Quipt Home Medical by 56.0% in the 3rd quarter. First Manhattan Co. now owns 446,250 shares of the company’s stock worth $2,815,000 after purchasing an additional 160,250 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Quipt Home Medical during the 3rd quarter valued at about $1,576,000. Boston Partners acquired a new stake in shares of Quipt Home Medical in the 3rd quarter worth approximately $587,000. ARS Investment Partners LLC acquired a new stake in shares of Quipt Home Medical in the 3rd quarter worth approximately $148,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Quipt Home Medical in the 3rd quarter worth approximately $66,000. 17.42% of the stock is currently owned by hedge funds and other institutional investors.

About Quipt Home Medical

Quipt Home Medical Corp. provides in-home monitoring equipment, supplies, and services for patients in the United States. It offers daily and ambulatory aides; power mobility equipment; BiPAP and CPAP machines, oxygen concentrators, and ventilators; oxygen therapy; sleep apnea and PAP treatment equipment; disease management services; and home ventilator equipment, as well as rents respiratory equipment.

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Earnings History and Estimates for Quipt Home Medical (NASDAQ:QIPT)

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