Nuveen Takes Stake in Quipt Home Medical Corp. (QIPT)

Quipt Home Medical Corp. (NASDAQ:QIPT)  is among the best fundamentally strong penny stocks to buy right now. During the first quarter, Nuveen LLC acquired a new stake in Quipt Home Medical Corp. (NASDAQ:QIPT) through the purchase of 150,046 shares, valued at approximately $350,000. According to the recent disclosure with the SEC, the global asset management firm now owns nearly 0.35% of the company.

We already know that Quipt Home Medical Corp. (NASDAQ:QIPT) is fueling its growth engine through strategic partnerships. The company recently announced the completion of its previously planned venture transaction with three key health systems and two hospitals.

The $17.4 million acquisition of Hart Medical Equipment (“Hart”) translates to the company’s ownership interest of 60%, with the remaining jointly owned by Henry Ford Health, McLaren Health Care, Blanchard Valley Health System, Wood County Hospital, and The Bellevue Hospital. Collaborations like this one have dual impacts. While they bring stabilized revenue and adjusted EBITDA, such initiatives are crucial for a deep pipeline of additional opportunities.

Quipt Home Medical Corp. (NASDAQ:QIPT) is a Kentucky-based company that provides durable and home medical equipment and supplies. With a commitment to delivering high-quality home care for patients, the company specializes in nebulizers, invasive ventilation, and home medical equipment.

While we acknowledge the potential of QIPT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QIPT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.