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Raymond James raises Quipt Home Medical (NASDAQ:QIPT) price target to $14.00

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Quipt Home Medical (NASDAQ:QIPT – Get an Assessment) had its price target raised by stock analysts Raymond James from $10.00 to $14.00 in a research note released Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 164.65% from the current share price.

Separately, Canaccord Genuity Group raised its price target on shares of Quipt Home Medical from C$11.00 to C$11.25 in a report released on Monday, October 24.

Quipt Home medical inventory up 10.7%

QIPT stock traded at $0.51 at midday Wednesday, hitting $5.29. 6,335 shares of the company were traded, against an average volume of 35,602. The company has a debt ratio of 0.14, a quick ratio of 0.62 and a current ratio of 1.00. Quipt Home Medical has a 1 year minimum of $3.89 and a 1 year maximum of $6.00. The stock’s 50-day simple moving average is $4.47 and its 200-day simple moving average is $4.68. The company has a market capitalization of $188.32 million, a price-earnings ratio of 40.70 and a beta of 0.43.

Quipt Home Medical (NASDAQ:QIPT – Get Rating) last released quarterly earnings data on Wednesday, December 21. The company reported earnings per share of $0.05 for the quarter, beating analysts’ consensus estimate of $0.04 by $0.01. Quipt Home Medical had a net margin of 3.46% and a return on equity of 7.13%. The company posted revenue of $40.09 million for the quarter, versus $40.50 million expected by analysts. On average, stock analysts expect Quipt Home Medical to post earnings per share of 0.29 for the current year.

Hedge funds weigh on Quipt Home Medical

A number of institutional investors have recently changed their stake in the company. Perritt Capital Management Inc. increased its equity stake in Quipt Home Medical by 24.8% in Q3. Perritt Capital Management Inc. now owns 137,000 shares of the company valued at $571,000 after acquiring an additional 27,201 shares during the period. First Manhattan Co. increased its equity stake in Quipt Home Medical by 0.6% in Q3. First Manhattan Co. now owns 926,250 shares of the company valued at $3,862,000 after acquiring an additional 5,700 shares during the period. Citadel Advisors LLC increased its equity stake in Quipt Home Medical by 304.7% in Q3. Citadel Advisors LLC now owns 26,204 shares of the company valued at $109,000 after acquiring an additional 39,004 shares during the period. Royal Bank of Canada increased its position in Quipt Home Medical by 783.4% in the third quarter. Royal Bank of Canada now owns 14,638 shares of the company valued at $61,000 after buying an additional 12,981 shares in the last quarter. Finally, Diker Management LLC bought a new position in Quipt Home Medical in Q3 worth $129,000. 26.14% of the shares are held by institutional investors and hedge funds.

Quipt Home Medical Company Profile

(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.

Further reading

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