Zacks Investment Research Downgrades CRH Medical (CRHM) to Hold

Zacks Investment Research downgraded shares of CRH Medical (NYSEAMERICAN:CRHM) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “CRH Medical Corporation offers products and services to physicians for the treatment of gastrointestinal diseases primarily in the United States. The company provides the CRH O’Regan System, a single use, disposable and hemorrhoid banding technology for treating hemorrhoid grades I – IV. It distributes the CRH O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to physicians. The company utilizes Web-based platform to connect doctors with patients as well as educating its install base of physicians. It also offers anesthesia services. CRH Medical Corporation is headquartered in Vancouver, Canada. “

Separately, Morgan Stanley upgraded CRH Medical from an equal weight rating to an overweight rating in a research report on Friday, November 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CRH Medical presently has a consensus rating of Buy and an average target price of $6.00.

Shares of CRH Medical (NYSEAMERICAN CRHM) opened at $2.80 on Monday. CRH Medical has a 52-week low of $1.46 and a 52-week high of $9.25. The company has a market capitalization of $200.14, a PE ratio of 40.00 and a beta of 1.29.

CRH Medical (NYSEAMERICAN:CRHM) last posted its earnings results on Wednesday, November 1st. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $23.35 million during the quarter, compared to analyst estimates of $22.70 million.

A number of hedge funds have recently modified their holdings of the stock. Stifel Financial Corp increased its position in CRH Medical by 7.7% in the 3rd quarter. Stifel Financial Corp now owns 1,665,839 shares of the company’s stock valued at $4,332,000 after acquiring an additional 119,685 shares during the period. JPMorgan Chase & Co. increased its position in CRH Medical by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 410,100 shares of the company’s stock valued at $964,000 after acquiring an additional 167,600 shares during the period. TD Asset Management Inc. increased its position in CRH Medical by 65.3% in the 3rd quarter. TD Asset Management Inc. now owns 111,054 shares of the company’s stock valued at $289,000 after acquiring an additional 43,851 shares during the period. Mawer Investment Management Ltd. increased its position in CRH Medical by 25.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,963,519 shares of the company’s stock valued at $15,542,000 after acquiring an additional 1,221,028 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in CRH Medical by 513.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 736,350 shares of the company’s stock valued at $1,914,000 after acquiring an additional 616,239 shares during the period.

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About CRH Medical

CRH Medical Corporation is a Canada-based healthcare products and services company. The Company focused on providing physicians with services and products for the treatment of gastrointestinal diseases. The Company also provides anesthesiology services to gastroenterologists in the United States through its subsidiaries.

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