Kanen Wealth Management LLC Has $3.45 Million Position in Quipt Home Medical Corp. $QIPT

Kanen Wealth Management LLC reduced its position in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 35.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,928,648 shares of the company’s stock after selling 1,040,893 shares during the quarter. Quipt Home Medical accounts for 1.3% of Kanen Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Kanen Wealth Management LLC’s holdings in Quipt Home Medical were worth $3,452,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in QIPT. Russell Investments Group Ltd. increased its stake in shares of Quipt Home Medical by 6.5% in the first quarter. Russell Investments Group Ltd. now owns 969,822 shares of the company’s stock worth $2,260,000 after acquiring an additional 59,204 shares during the last quarter. Northern Trust Corp increased its stake in shares of Quipt Home Medical by 2.8% in the fourth quarter. Northern Trust Corp now owns 257,402 shares of the company’s stock worth $785,000 after acquiring an additional 7,095 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of Quipt Home Medical in the first quarter worth $574,000. Strs Ohio acquired a new position in shares of Quipt Home Medical in the first quarter worth $452,000. Finally, Nuveen LLC acquired a new position in shares of Quipt Home Medical in the first quarter worth $350,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Quipt Home Medical from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Canaccord Genuity Group upped their price target on shares of Quipt Home Medical from $1.70 to $2.30 and gave the stock a “hold” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.15.

Quipt Home Medical Stock Down 0.7%

QIPT stock opened at $2.72 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 0.75. Quipt Home Medical Corp. has a 52-week low of $1.35 and a 52-week high of $3.27. The company has a 50-day moving average of $2.36 and a two-hundred day moving average of $2.14. The stock has a market capitalization of $118.16 million, a price-to-earnings ratio of -11.33 and a beta of 0.60.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Quipt Home Medical had a negative net margin of 4.30% and a negative return on equity of 9.78%. The firm had revenue of $58.30 million for the quarter, compared to the consensus estimate of $80.37 million. As a group, equities research analysts anticipate that Quipt Home Medical Corp. will post -0.05 EPS for the current year.

Quipt Home Medical Profile

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.