Quipt Home Medical Corp. (NASDAQ:QIPT) Receives $6.25 Average PT from Brokerages

Shares of Quipt Home Medical Corp. (NASDAQ:QIPT) have earned an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.25.

Several equities analysts recently commented on the stock. Benchmark reduced their price objective on shares of Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Canaccord Genuity Group decreased their price target on shares of Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Quipt Home Medical Stock Up 2.9 %

Shares of NASDAQ QIPT opened at $2.47 on Wednesday. The business has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $3.04. Quipt Home Medical has a 52 week low of $2.34 and a 52 week high of $5.29. The company has a market cap of $106.43 million, a P/E ratio of -22.45 and a beta of 0.62. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 0.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QIPT. Forager Capital Management LLC lifted its stake in Quipt Home Medical by 77.7% during the third quarter. Forager Capital Management LLC now owns 4,192,562 shares of the company’s stock worth $12,200,000 after purchasing an additional 1,833,590 shares during the last quarter. Royce & Associates LP lifted its position in Quipt Home Medical by 15.8% in the 3rd quarter. Royce & Associates LP now owns 1,768,789 shares of the company’s stock worth $5,165,000 after buying an additional 240,980 shares during the last quarter. Boston Partners lifted its position in Quipt Home Medical by 12.8% in the 1st quarter. Boston Partners now owns 742,006 shares of the company’s stock worth $3,243,000 after buying an additional 84,182 shares during the last quarter. State Street Corp boosted its stake in Quipt Home Medical by 1.0% in the third quarter. State Street Corp now owns 621,388 shares of the company’s stock worth $1,814,000 after buying an additional 6,317 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Quipt Home Medical by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company’s stock valued at $2,235,000 after acquiring an additional 12,070 shares during the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

About Quipt Home Medical

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.