Hsbc Holdings PLC Raises Stock Holdings in Quipt Home Medical Corp. (NASDAQ:QIPT)

Hsbc Holdings PLC raised its stake in shares of Quipt Home Medical Corp. (NASDAQ:QIPT) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,522 shares of the company’s stock after purchasing an additional 4,969 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Quipt Home Medical worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Quipt Home Medical by 21.0% in the second quarter. Rhumbline Advisers now owns 49,276 shares of the company’s stock valued at $159,000 after acquiring an additional 8,541 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Quipt Home Medical by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $418,000 after buying an additional 32,073 shares during the last quarter. Boston Partners boosted its stake in Quipt Home Medical by 12.8% in the first quarter. Boston Partners now owns 742,006 shares of the company’s stock worth $3,243,000 after buying an additional 84,182 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Quipt Home Medical by 25.9% during the first 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 in the last quarter. Finally, Connors Investor Services Inc. lifted its holdings in shares of Quipt Home Medical by 26.7% in the 1st quarter. Connors Investor Services Inc. now owns 52,208 shares of the company’s stock worth $228,000 after acquiring an additional 11,000 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Stock Up 1.4 %

Shares of NASDAQ:QIPT opened at $2.80 on Friday. The stock’s 50-day moving average is $2.98 and its 200 day moving average is $3.37. The company has a market cap of $119.20 million, a PE ratio of -28.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 0.77. Quipt Home Medical Corp. has a 1 year low of $2.60 and a 1 year high of $5.29.

Quipt Home Medical (NASDAQ:QIPT) last announced its earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The business had revenue of $63.97 million for the quarter, compared to the consensus estimate of $65.03 million. Quipt Home Medical had a negative net margin of 1.95% and a negative return on equity of 4.51%. During the same quarter in the prior year, the company earned ($0.03) EPS. Sell-side analysts anticipate that Quipt Home Medical Corp. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

QIPT has been the subject of several recent research reports. Ventum Cap Mkts raised shares of Quipt Home Medical to a “strong-buy” rating in a research note on Tuesday, July 16th. Canaccord Genuity Group reduced their price target on Quipt Home Medical from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Benchmark lowered their price objective on Quipt Home Medical from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.25.

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.