Forager Capital Management LLC Acquires 1,833,590 Shares of Quipt Home Medical Corp. (NASDAQ:QIPT)

Forager Capital Management LLC boosted its stake in Quipt Home Medical Corp. (NASDAQ:QIPT) by 77.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,192,562 shares of the company’s stock after buying an additional 1,833,590 shares during the quarter. Quipt Home Medical makes up about 4.8% of Forager Capital Management LLC’s holdings, making the stock its 10th biggest position. Forager Capital Management LLC owned about 0.10% of Quipt Home Medical worth $12,200,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royce & Associates LP grew its holdings in Quipt Home Medical by 15.8% in the 3rd quarter. Royce & Associates LP now owns 1,768,789 shares of the company’s stock valued at $5,165,000 after buying an additional 240,980 shares during the period. Rhumbline Advisers grew its position in Quipt Home Medical by 21.0% during 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 period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $418,000 after acquiring an additional 32,073 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Quipt Home Medical in the third quarter worth about $44,000. Finally, Atom Investors LP acquired a new stake in Quipt Home Medical in the third quarter valued at approximately $51,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Quipt Home Medical Stock Up 2.9 %

NASDAQ:QIPT opened at $2.82 on Wednesday. The company has a market cap of $121.52 million, a PE ratio of -25.64 and a beta of 0.62. Quipt Home Medical Corp. has a 52-week low of $2.34 and a 52-week high of $5.29. The stock has a 50-day simple moving average of $2.69 and a 200 day simple moving average of $2.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QIPT shares. Canaccord Genuity Group dropped their target price 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. Benchmark decreased their price target on shares of 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 analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price 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.