NewGen Asset Management Ltd Has $4.20 Million Position in Quipt Home Medical Corp. (NASDAQ:QIPT)

NewGen Asset Management Ltd increased its stake in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 825,700 shares of the company’s stock after buying an additional 20,200 shares during the quarter. Quipt Home Medical comprises approximately 2.2% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 15th biggest position. NewGen Asset Management Ltd owned about 1.96% of Quipt Home Medical worth $4,203,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QIPT. Sonora Investment Management Group LLC acquired a new stake in Quipt Home Medical during the third quarter worth approximately $51,000. SG Americas Securities LLC acquired a new stake in shares of Quipt Home Medical in the 4th quarter valued at $70,000. Bridge City Capital LLC acquired a new stake in shares of Quipt Home Medical in the 3rd quarter valued at $74,000. Raymond James & Associates boosted its holdings in shares of Quipt Home Medical by 170.0% in the 3rd quarter. Raymond James & Associates now owns 27,000 shares of the company’s stock valued at $137,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Quipt Home Medical by 112.9% in the 3rd quarter. Barclays PLC now owns 29,665 shares of the company’s stock valued at $152,000 after purchasing an additional 15,728 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded Quipt Home Medical from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a report on Friday, February 16th.

Quipt Home Medical Price Performance

Shares of QIPT stock traded down $0.06 during trading hours on Friday, reaching $3.95. The company’s stock had a trading volume of 241,071 shares, compared to its average volume of 153,999. The firm’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.51. The company has a market capitalization of $168.15 million, a price-to-earnings ratio of -43.88 and a beta of 0.68. Quipt Home Medical Corp. has a fifty-two week low of $3.42 and a fifty-two week high of $6.63. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.67.

Quipt Home Medical (NASDAQ:QIPT) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $65.36 million during the quarter, compared to analysts’ expectations of $63.43 million. Quipt Home Medical had a negative return on equity of 3.57% and a negative net margin of 1.50%. Sell-side analysts forecast that Quipt Home Medical Corp. will post 0.04 earnings per share for the current year.

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.