Allspring Global Investments Holdings LLC Has $71,000 Stake in Quipt Home Medical Corp. (NASDAQ:QIPT)

Allspring Global Investments Holdings LLC lowered its position in Quipt Home Medical Corp. (NASDAQ:QIPT) by 91.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,873 shares of the company’s stock after selling 147,846 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Quipt Home Medical were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QIPT. Perritt Capital Management Inc. raised its holdings in shares of Quipt Home Medical by 1.7% in the 3rd quarter. Perritt Capital Management Inc. now owns 215,500 shares of the company’s stock valued at $1,097,000 after purchasing an additional 3,698 shares during the period. Punch & Associates Investment Management Inc. raised its stake in Quipt Home Medical by 2.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 259,125 shares of the company’s stock valued at $1,319,000 after buying an additional 6,125 shares during the period. Sonora Investment Management Group LLC acquired a new stake in shares of Quipt Home Medical in the third quarter valued at approximately $51,000. Connors Investor Services Inc. boosted its stake in shares of Quipt Home Medical by 32.0% during the 3rd quarter. Connors Investor Services Inc. now owns 41,208 shares of the company’s stock worth $210,000 after acquiring an additional 10,000 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Quipt Home Medical by 37.0% during the 4th quarter. Raymond James & Associates now owns 37,000 shares of the company’s stock worth $188,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James downgraded shares of Quipt Home Medical from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a report on Friday, February 16th.

Quipt Home Medical Stock Down 1.1 %

Quipt Home Medical stock opened at $3.62 on Tuesday. Quipt Home Medical Corp. has a twelve month low of $3.42 and a twelve month high of $6.63. The stock has a market cap of $154.10 million, a P/E ratio of -40.22 and a beta of 0.60. The company’s 50-day moving average price is $4.10 and its two-hundred day moving average price is $4.53. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.67.

Quipt Home Medical (NASDAQ:QIPT) last announced its earnings results on Wednesday, February 14th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Quipt Home Medical had a negative return on equity of 3.57% and a negative net margin of 1.50%. The company had revenue of $65.36 million for the quarter, compared to analyst estimates of $63.43 million. As a group, analysts expect that Quipt Home Medical Corp. will post 0.04 EPS for the current year.

About Quipt Home Medical

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.