Quipt Home Medical Corp. (NASDAQ:QIPT – Get Rating) – Analysts at Raymond James dropped their Q1 2023 earnings estimates for Quipt Home Medical in a report released on Thursday, January 5th. Raymond James analyst R. Sarugaser now anticipates that the company will post earnings of $0.02 per share for the quarter, down from their previous forecast of $0.10. Raymond James currently has a "Outperform" rating and a $14.00 price target on the stock. The consensus estimate for Quipt Home Medical's current full-year earnings is $0.25 per share. Raymond James also issued estimates for Quipt Home Medical's FY2023 earnings at $0.28 EPS and FY2024 earnings at $0.52 EPS.

Quipt Home Medical (NASDAQ:QIPT – Get Rating) last announced its quarterly earnings results on Wednesday, December 21st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the 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 had revenue of $40.09 million for the quarter, compared to analysts' expectations of $40.50 million.

Quipt Home Medical Price Performance

Shares of NASDAQ QIPT opened at $5.58 on Monday. Quipt Home Medical has a 1 year low of $3.89 and a 1 year high of $6.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 0.62. The company's 50-day moving average is $4.56 and its 200 day moving average is $4.69. The stock has a market capitalization of $198.68 million, a P/E ratio of 42.93 and a beta of 0.43.

Institutional Investors Weigh In On Quipt Home Medical

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Quipt Home Medical by 24.6% in the first quarter. Royal Bank of Canada now owns 12,327 shares of the company's stock worth $54,000 after buying an additional 2,437 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Quipt Home Medical by 13.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 33,100 shares of the company's stock worth $145,000 after purchasing an additional 4,050 shares in the last quarter. First Manhattan Co. boosted its position in shares of Quipt Home Medical by 0.6% during the third quarter. First Manhattan Co. now owns 926,250 shares of the company's stock worth $3,862,000 after acquiring an additional 5,700 shares during the last quarter. ARS Investment Partners LLC boosted its position in shares of Quipt Home Medical by 10.4% during the second quarter. ARS Investment Partners LLC now owns 90,673 shares of the company's stock worth $419,000 after acquiring an additional 8,549 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Quipt Home Medical during the second quarter worth $47,000. Institutional investors own 26.14% of the company's stock.

About Quipt Home Medical

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Quipt Home Medical Corp. provides in-home medical equipment and supplies, and respiratory and durable medical equipment in the United States. It offers management of various chronic disease states focusing on patients with heart and pulmonary disease, sleep apnea, reduced mobility, and other chronic health conditions.

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