Quipt Home Medical Corp. (NASDAQ:QIPT) Expected to Post Quarterly Sales of $29.45 Million

Wall Street brokerages predict that Quipt Home Medical Corp. (NASDAQ:QIPT) will announce sales of $29.45 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Quipt Home Medical’s earnings, with estimates ranging from $27.90 million to $31.00 million. The business is expected to announce its next earnings results on Monday, November 22nd.

According to Zacks, analysts expect that Quipt Home Medical will report full year sales of $102.74 million for the current fiscal year, with estimates ranging from $101.50 million to $104.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $129.52 million, with estimates ranging from $126.50 million to $133.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Quipt Home Medical.

Quipt Home Medical (NASDAQ:QIPT) last posted its earnings results on Sunday, August 22nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16.

QIPT has been the topic of a number of research reports. Colliers Securities reissued a “buy” rating on shares of Quipt Home Medical in a report on Wednesday, June 2nd. Leede Jones Gab reissued a “buy” rating on shares of Quipt Home Medical in a research note on Wednesday, June 2nd. Raymond James reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Quipt Home Medical in a research note on Wednesday, August 25th. Finally, Beacon Securities reaffirmed a “buy” rating on shares of Quipt Home Medical in a research note on Tuesday, June 1st.

A number of hedge funds have recently modified their holdings of QIPT. CLARET ASSET MANAGEMENT Corp acquired a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $17,171,000. Kennedy Capital Management Inc. acquired a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $1,459,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $549,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $273,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Quipt Home Medical in the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 14.69% of the company’s stock.

Shares of QIPT stock traded down $0.12 during mid-day trading on Friday, hitting $6.06. 1 shares of the stock were exchanged, compared to its average volume of 65,885. The firm’s fifty day moving average price is $6.03. Quipt Home Medical has a 12-month low of $3.65 and a 12-month high of $8.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.57 and a current ratio of 1.91.

Quipt Home Medical Company Profile

Quipt Home Medical Corp. provides in-home monitoring equipment, supplies, and services for patients in the United States. It offers daily and ambulatory aides; power mobility equipment; BiPAP and CPAP machines, oxygen concentrators, and ventilators; oxygen therapy; sleep apnea and PAP treatment equipment; disease management services; and home ventilator equipment, as well as rents respiratory equipment.

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Earnings History and Estimates for Quipt Home Medical (NASDAQ:QIPT)

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