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Following these acquisitions, Gamble now directly owns 40,057 shares of the company. Quipt Home Medical (TASE:PMCN) Corp., based in Wilder, Kentucky, specializes in providing home medical equipment and services. The $120 million market cap company generates annual revenues of $246 million and analysts maintain a strong buy consensus with price targets ranging from $4 to $12. While currently unprofitable, InvestingPro analysis indicates positive earnings expectations for the coming year. Additional insights and detailed financial metrics are available through InvestingPro's comprehensive research report. The $120 million market cap company generates annual revenues of $246 million and analysts maintain a strong buy consensus with price targets ranging from $4 to $12. While currently unprofitable, InvestingPro analysis indicates positive earnings expectations for the coming year. Additional insights and detailed financial metrics are available through InvestingPro's comprehensive research report. Following these acquisitions, Gamble now directly owns 40,057 shares of the company. Quipt Home Medical Corp., based in Wilder, Kentucky, specializes in providing home medical equipment and services.
In other recent news, Quipt Home Medical has seen a change in its stock target, yet maintains its buy standing due to revenue growth. Analysts at Benchmark have lowered the price target from $7.00 to $6.00, following a 1% sequential revenue growth in the fourth fiscal quarter. Despite this minor increase, Quipt Home Medical has shown a strong year-over-year revenue growth of 16.17% and a robust gross margin of 71.97%, according to data from InvestingPro.
The company's adjusted EBITDA for the quarter decreased by 9% year over year to $13.4 million, due to inventory adjustments and increased healthcare expenses. However, Quipt Home Medical's management expects a return to its long-term organic growth target of 8%-10% by the second half of fiscal year 2025.
In addition, Quipt Home Medical has not seen a drop in demand for its sleep therapy and supplies, which account for 50% of its revenue. The company's management has also noted an active mergers and acquisitions pipeline, which could potentially bolster the business model. The revised $6.00 price target is in line with Quipt Home Medical's closest peers and represents a discount compared to the impending acquisition of Rotech Healthcare by Owens & Minor. These are among the recent developments for the company.
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