Rhumbline Advisers Buys 8,541 Shares of Quipt Home Medical Corp. (NASDAQ:QIPT)

Rhumbline Advisers increased its stake in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 21.0% in the second quarter, Holdings Channel reports. The firm owned 49,276 shares of the company’s stock after buying an additional 8,541 shares during the quarter. Rhumbline Advisers’ holdings in Quipt Home Medical were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Quipt Home Medical during the 1st quarter worth about $50,000. Bank of New York Mellon Corp grew its holdings in Quipt Home Medical by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $418,000 after purchasing an additional 32,073 shares during the period. Boston Partners increased its stake in Quipt Home Medical by 12.8% in the first quarter. Boston Partners now owns 742,006 shares of the company’s stock valued at $3,243,000 after purchasing an additional 84,182 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Quipt Home Medical by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 511,348 shares of the company’s stock worth $2,235,000 after purchasing an additional 12,070 shares during the period. Finally, Bridge City Capital LLC boosted its position in shares of Quipt Home Medical by 17.9% during the first quarter. Bridge City Capital LLC now owns 47,721 shares of the company’s stock worth $209,000 after purchasing an additional 7,244 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Stock Performance

Shares of Quipt Home Medical stock opened at $2.80 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.77. The firm has a market cap of $119.20 million, a price-to-earnings ratio of -28.00 and a beta of 0.60. The stock’s 50-day moving average is $3.07 and its 200-day moving average is $3.41. Quipt Home Medical Corp. has a one year low of $2.60 and a one year high of $5.44.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. The firm had revenue of $63.97 million for the quarter, compared to analyst estimates of $65.03 million. During the same period last year, the company earned ($0.03) EPS. Equities analysts predict that Quipt Home Medical Corp. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on QIPT. Canaccord Genuity Group dropped their price objective on Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Benchmark cut their price objective on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Ventum Cap Mkts raised Quipt Home Medical to a “strong-buy” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $6.25.

Quipt Home Medical 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.