Quipt Home Medical Corp. (NASDAQ:QIPT) Expected to Earn $0.05 Per Share in Q3 2022
Quipt Home Medical Corp. (NASDAQ: QIPT – Get a rating) – Raymond James cut its earnings per share estimate for the third quarter of 2022 for Quipt Home Medical in a report released Wednesday, April 27. Raymond James analyst R. Sarugaser now expects the company to post earnings per share of $0.05 for the quarter, down from its previous estimate of $0.07. Raymond James currently has an “Outperform” rating and a target price of $9.00 on the stock. Raymond James also released estimates for Quipt Home Medical Q4 2022 earnings at $0.09 EPS, FY2022 earnings at $0.11 EPS, Q4 2023 earnings at $0.22 EPS, FY2023 earnings at $0.22 EPS, $0.69 EPS, FY2024 earnings at $0.92 EPS, FY2025 earnings at $1.34 EPS and FY2026 earnings at $1.76 EPS.
Separately, Zacks Investment Research upgraded Quipt Home Medical from a “Strong Sell” rating to a “Hold” rating in a Wednesday, March 9 research report. One analyst rated the stock with a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.30.
QIPT opened at $4.57 on Friday. The company has a fifty-day simple moving average of $4.56 and a 200-day simple moving average of $5.31. The company has a market capitalization of $153.24 million and a PE ratio of -14.28. Quipt Home Medical has a 1-year minimum of $4.03 and a 1-year maximum of $7.72. The company has a debt ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.38. Quipt Home Medical (NASDAQ:QIPT – Get a rating) last released its quarterly results on Monday, February 14. The company reported ($0.06) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of $0.02 per ($0.08). The company posted revenue of $29.53 million in the quarter, versus a consensus estimate of $30.30 million. Quipt Home Medical had a negative net margin of 8.86% and a negative return on equity of 4.36%.
Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada acquired a new position in shares of Quipt Home Medical during the 2nd quarter at a value of $35,000. Precision Wealth Strategies LLC increased its holdings of Quipt Home Medical shares by 28.6% during the 4th quarter. Precision Wealth Strategies LLC now owns 51,902 shares of the company worth $291,000 after purchasing an additional 11,531 shares last quarter. Bank of America Corp DE increased its equity stake in Quipt Home Medical by 196.7% during the 4th quarter. Bank of America Corp DE now owns 18,545 shares of the company worth $104,000 after buying an additional 12,295 shares last quarter. Marshall Wace LLP acquired a new position in shares of Quipt Home Medical during the 4th quarter at a value of $89,000. Finally, Citadel Advisors LLC acquired a new position in shares of Quipt Home Medical during the 4th quarter at a value of $97,000. 21.35% of the shares are held by institutional investors.
About Quipt Home Medical (Get a rating)
Quipt Home Medical Corp. provides home medical equipment and supplies, as well as respiratory and durable medical equipment in the United States. The company also offers the management of various chronic disease states with a focus on patients with heart and lung disease, sleep disorders, reduced mobility and other chronic health conditions.
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