Boston Partners Acquires 84,182 Shares of Quipt Home Medical Corp. (NASDAQ:QIPT)

Boston Partners lifted its holdings in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 12.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 742,006 shares of the company’s stock after acquiring an additional 84,182 shares during the period. Boston Partners owned approximately 1.74% of Quipt Home Medical worth $3,243,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Quipt Home Medical by 25.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,829 shares of the company’s stock worth $57,000 after acquiring an additional 2,640 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Quipt Home Medical by 141.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,755 shares of the company’s stock worth $34,000 after purchasing an additional 3,956 shares in the last quarter. Bridge City Capital LLC increased its position in shares of Quipt Home Medical by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 47,721 shares of the company’s stock worth $209,000 after purchasing an additional 7,244 shares in the last quarter. Raymond James & Associates increased its position in shares of Quipt Home Medical by 37.0% during the 4th quarter. Raymond James & Associates now owns 37,000 shares of the company’s stock worth $188,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Connors Investor Services Inc. increased its position in shares of Quipt Home Medical by 26.7% during the 1st quarter. Connors Investor Services Inc. now owns 52,208 shares of the company’s stock worth $228,000 after purchasing an additional 11,000 shares in the last quarter. 42.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on QIPT. Benchmark dropped their target price on shares of Quipt Home Medical from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Raymond James cut 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. Ventum Cap Mkts upgraded shares of Quipt Home Medical to a “strong-buy” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group lowered their price objective 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 lowered their price objective 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 research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Quipt Home Medical presently has an average rating of “Buy” and an average price target of $7.25.

Quipt Home Medical Price Performance

QIPT traded down $0.08 during midday trading on Friday, hitting $3.74. The company had a trading volume of 183,331 shares, compared to its average volume of 211,789. The company has a market capitalization of $161.16 million, a PE ratio of -37.40 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.79 and a current ratio of 1.14. Quipt Home Medical Corp. has a twelve month low of $2.85 and a twelve month high of $6.01. The firm’s 50-day simple moving average is $3.32 and its 200-day simple moving average is $3.86.

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

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.