RE:Top Tech Picks for Q1 2022 from Echelon Capital Markets Quipt Home Medical (Quipt Home Medical Stock Quote, Charts, News, Analysts, Financials TSXV:QIPT)
- Echelon rating: Buy
- Target price: $11.25
- Projected one-year return: 59 per cent
Quipt Home Medical, which provides in-home monitoring and chronic disease management services in the US, is staying on Echelon’s TPP, with Quenneville saying he likes the company’s positioning in “an M&A sweet spot” in the fragmented Durable Medical Equipment market in the US. At the same time, the analyst said QIPT’s regional scale would make it an attractive take-out target for one of the larger national players.
“The US home care and DME markets are expected to grow at CAGRs of seven per cent and six per cent, respectively, through 2028 due primarily to the demographics of the ageing population. Quipt is well-positioned at the intersection of these two markets, both of which provide cost savings to payors (e.g., insurance companies, Medicare) and convenience to patients,” Quenneville wrote in a January 4 report.