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

Quipt Home Medical Corp. (NASDAQ:QIPT) has earned a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $6.25.

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

Institutional Investors Weigh In On Quipt Home Medical

Several institutional investors and hedge funds have recently bought and sold shares of QIPT. Forager Capital Management LLC grew its holdings in shares of 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 valued at $12,200,000 after purchasing an additional 1,833,590 shares during the last quarter. Royce & Associates LP boosted its position in Quipt Home Medical by 15.8% during the 3rd quarter. Royce & Associates LP now owns 1,768,789 shares of the company’s stock valued at $5,165,000 after purchasing an additional 240,980 shares during the period. Boston Partners grew its stake in Quipt Home Medical by 12.8% during 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 increased its position 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 during the period. Finally, Russell Investments Group Ltd. lifted its stake 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 valued at $2,235,000 after buying an additional 12,070 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Quipt Home Medical Trading Up 2.1 %

NASDAQ QIPT opened at $2.41 on Wednesday. The company has a market capitalization of $103.85 million, a price-to-earnings ratio of -21.91 and a beta of 0.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.77. Quipt Home Medical has a 12 month low of $2.34 and a 12 month high of $5.29. The company’s fifty day moving average price is $2.73 and its two-hundred day moving average price is $3.05.

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.