Analysts expect Quipt Home Medical Corp. (NASDAQ:QIPT – Get Rating) to announce sales of $34.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Quipt Home Medical’s earnings, with the lowest sales estimate coming in at $34.40 million and the highest estimate coming in at $34.50 million. Quipt Home Medical posted sales of $24.24 million in the same quarter last year, which suggests a positive year over year growth rate of 42.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, June 7th.
On average, analysts expect that Quipt Home Medical will report full year sales of $143.64 million for the current financial year, with estimates ranging from $129.20 million to $153.50 million. For the next year, analysts forecast that the firm will post sales of $207.27 million, with estimates ranging from $165.30 million to $236.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Quipt Home Medical.
Quipt Home Medical (NASDAQ:QIPT – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $29.12 million during the quarter. Quipt Home Medical had a negative net margin of 8.86% and a negative return on equity of 4.36%.
QIPT has been the subject of several research reports. Raymond James reaffirmed an “outperform” rating and issued a $11.50 price target on shares of Quipt Home Medical in a research report on Wednesday, February 16th. Zacks Investment Research raised shares of Quipt Home Medical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 9th. Stifel Nicolaus upped their price target on shares of Quipt Home Medical from C$12.40 to C$12.75 and gave the stock a “buy” rating in a research report on Wednesday, November 17th. Finally, upped their price target on shares of Quipt Home Medical from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Quipt Home Medical has an average rating of “Buy” and an average price target of $9.80.
Shares of QIPT traded down $0.12 during mid-day trading on Wednesday, hitting $4.56. The company’s stock had a trading volume of 914 shares, compared to its average volume of 68,375. The company’s 50-day moving average is $5.24 and its 200-day moving average is $5.70. Quipt Home Medical has a 52-week low of $4.03 and a 52-week high of $8.40. The firm has a market capitalization of $152.54 million and a price-to-earnings ratio of -14.63. The company has a current ratio of 1.70, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30.
Several large investors have recently added to or reduced their stakes in QIPT. Public Employees Retirement System of Ohio purchased a new stake in Quipt Home Medical during the second quarter worth $273,000. Geode Capital Management LLC purchased a new stake in Quipt Home Medical during the second quarter worth $86,000. Independent Advisor Alliance purchased a new stake in Quipt Home Medical during the third quarter worth $66,000. First Manhattan Co. lifted its holdings in Quipt Home Medical by 56.0% during the third quarter. First Manhattan Co. now owns 446,250 shares of the company’s stock valued at $2,815,000 after purchasing an additional 160,250 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in Quipt Home Medical during the third quarter valued at $641,000. Hedge funds and other institutional investors own 21.35% of the company’s stock.
Quipt Home Medical Company Profile (Get Rating)
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.
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