Benchmark Trims Quipt Home Medical (NASDAQ:QIPT) Target Price to $9.00

Quipt Home Medical (NASDAQ:QIPT) had its target price cut by Benchmark from $10.00 to $9.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on QIPT. Raymond James downgraded shares of Quipt Home Medical from a market perform rating to an underperform rating and dropped their target price for the stock from $10.00 to $2.50 in a research report on Friday, May 17th. Canaccord Genuity Group dropped their target price on shares of Quipt Home Medical from $9.00 to $8.00 and set a buy rating for the company in a research report on Friday, May 17th. Finally, Stifel Nicolaus dropped their target price on shares of Quipt Home Medical from $10.50 to $9.50 and set a buy rating for the company in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quipt Home Medical currently has an average rating of Moderate Buy and a consensus price target of $7.25.

Quipt Home Medical Stock Performance

Shares of QIPT stock opened at $3.21 on Monday. Quipt Home Medical has a 12 month low of $2.96 and a 12 month high of $6.01. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market capitalization of $136.65 million, a P/E ratio of -32.10 and a beta of 0.68. The company’s fifty day moving average price is $3.92 and its two-hundred day moving average price is $4.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in Quipt Home Medical by 112.9% in the 3rd quarter. Barclays PLC now owns 29,665 shares of the company’s stock worth $152,000 after purchasing an additional 15,728 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Quipt Home Medical by 83.5% in the 3rd quarter. Hsbc Holdings PLC now owns 32,698 shares of the company’s stock worth $166,000 after acquiring an additional 14,875 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Quipt Home Medical in the 4th quarter worth approximately $70,000. First Eagle Investment Management LLC lifted its stake in shares of Quipt Home Medical by 37.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 597,037 shares of the company’s stock worth $3,039,000 after acquiring an additional 164,202 shares during the period. Finally, Perritt Capital Management Inc. lifted its stake in shares of Quipt Home Medical by 1.7% in the 3rd quarter. Perritt Capital Management Inc. now owns 215,500 shares of the company’s stock worth $1,097,000 after acquiring an additional 3,698 shares during the period. Institutional investors own 42.85% of the company’s stock.

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.