Connors Investor Services Inc. Buys 11,000 Shares of Quipt Home Medical Corp. (NASDAQ:QIPT)

Connors Investor Services Inc. boosted its holdings in Quipt Home Medical Corp. (NASDAQ:QIPT) by 26.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 52,208 shares of the company’s stock after buying an additional 11,000 shares during the period. Connors Investor Services Inc. owned 0.12% of Quipt Home Medical worth $228,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Quipt Home Medical in the fourth quarter worth about $70,000. Raymond James & Associates grew its holdings in Quipt Home Medical by 37.0% in the fourth quarter. Raymond James & Associates now owns 37,000 shares of the company’s stock worth $188,000 after purchasing an additional 10,000 shares during the last quarter. NewGen Asset Management Ltd increased its position in shares of Quipt Home Medical by 2.5% in the 4th quarter. NewGen Asset Management Ltd now owns 825,700 shares of the company’s stock valued at $4,203,000 after acquiring an additional 20,200 shares during the period. Jump Financial LLC acquired a new position in shares of Quipt Home Medical in the 4th quarter valued at $65,000. Finally, First Eagle Investment Management LLC increased its position in shares of Quipt Home Medical by 17.1% in the 4th quarter. First Eagle Investment Management LLC now owns 699,102 shares of the company’s stock valued at $3,558,000 after acquiring an additional 102,065 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on QIPT. Canaccord Genuity Group lowered their price target on shares of Quipt Home Medical from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Benchmark lowered their price target on shares of Quipt Home Medical from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Ventum Cap Mkts raised shares of Quipt Home Medical to a “strong-buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus lowered their target price on shares of Quipt Home Medical from $10.50 to $9.50 and set a “buy” rating on the stock in a research note on Friday, May 17th. Finally, Eight Capital raised shares of Quipt Home Medical to a “strong-buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $7.25.

Quipt Home Medical Stock Down 0.3 %

QIPT stock traded down $0.01 during midday trading on Monday, hitting $3.43. The company’s stock had a trading volume of 40,108 shares, compared to its average volume of 185,232. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.66. Quipt Home Medical Corp. has a 52-week low of $2.85 and a 52-week high of $6.01. The firm has a market capitalization of $146.02 million, a P/E ratio of -34.30 and a beta of 0.63. The firm has a 50-day simple moving average of $3.26 and a 200-day simple moving average of $3.93.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). Quipt Home Medical had a negative net margin of 1.71% and a negative return on equity of 3.89%. The business had revenue of $63.95 million during the quarter, compared to analysts’ expectations of $64.27 million.

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.