CRH Medical (NYSEAMERICAN:CRHM) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of CRH Medical (NYSEAMERICAN:CRHM) from a sell rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases. In 2014, CRH became a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. At the end of 2018, CRH had completed 20 anesthesia acquisitions and served 46 ambulatory surgical centers in ten states, performing approximately 305,000 procedures annually. In addition, CRH owns the CRH O’Regan System, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids. CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves. “

Separately, Bloom Burton raised shares of CRH Medical from an accumulate rating to a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $3.25.

NYSEAMERICAN CRHM opened at $3.25 on Monday. CRH Medical has a 12-month low of $2.51 and a 12-month high of $4.50.

CRH Medical (NYSEAMERICAN:CRHM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $30.48 million during the quarter, compared to analysts’ expectations of $29.50 million.

Several institutional investors and hedge funds have recently made changes to their positions in CRHM. Pacific Ridge Capital Partners LLC grew its holdings in shares of CRH Medical by 12.9% during the first quarter. Pacific Ridge Capital Partners LLC now owns 2,076,648 shares of the company’s stock valued at $5,524,000 after buying an additional 237,175 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of CRH Medical during the first quarter valued at $236,000. Wedge Capital Management L L P NC grew its holdings in shares of CRH Medical by 25.7% during the first quarter. Wedge Capital Management L L P NC now owns 118,903 shares of the company’s stock valued at $316,000 after buying an additional 24,347 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of CRH Medical by 3.5% during the second quarter. Renaissance Technologies LLC now owns 669,700 shares of the company’s stock valued at $2,029,000 after buying an additional 22,500 shares during the last quarter.

About CRH Medical

CRH Medical Corporation provides various products and services to gastroenterologists in the United States and Canada. It offers CRH O'Regan system, a single use, disposable, and hemorrhoid banding technology for treating various grades of hemorrhoid. The company also offers anesthesia services for patients undergoing endoscopic procedures.

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