Salem Investment Counselors Inc. acquired a new stake in Quipt Home Medical Corp. (NASDAQ:QIPT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,000 shares of the company’s stock, valued at approximately $219,000.
Several other institutional investors have also recently made changes to their positions in QIPT. Royal Bank of Canada acquired a new stake in shares of Quipt Home Medical in the second quarter valued at $35,000. Geode Capital Management LLC acquired a new stake in shares of Quipt Home Medical during the second quarter worth $86,000. Private Advisor Group LLC acquired a new stake in shares of Quipt Home Medical during the second quarter worth $122,000. JPMorgan Chase & Co. acquired a new stake in shares of Quipt Home Medical during the second quarter worth $210,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Quipt Home Medical during the second quarter worth $273,000. Institutional investors and hedge funds own 14.97% of the company’s stock.
NASDAQ:QIPT opened at $5.33 on Tuesday. The company’s fifty day simple moving average is $5.93. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.32. Quipt Home Medical Corp. has a 1-year low of $4.40 and a 1-year high of $8.40.
Quipt Home Medical (NASDAQ:QIPT) last issued its earnings results on Sunday, August 22nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Quipt Home Medical had a negative return on equity of 0.93% and a negative net margin of 9.03%. The firm had revenue of $26.24 million for the quarter, compared to the consensus estimate of $26.80 million. Equities research analysts predict that Quipt Home Medical Corp. will post -0.17 EPS for the current year.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Quipt Home Medical from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Wednesday, October 27th. Raymond James reissued an “outperform” rating and set a $9.00 price target on shares of Quipt Home Medical in a research report on Wednesday, August 25th. Finally, Benchmark assumed coverage on Quipt Home Medical in a research report on Wednesday, October 20th. They set a “buy” rating and a $7.50 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.58.
Quipt Home Medical Profile
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.