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 report released on Tuesday 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 shares of CRH Medical from an equal weight rating to an overweight rating in a report on Friday, November 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $6.00.

CRH Medical (NYSEAMERICAN CRHM) traded down $0.05 during mid-day trading on Tuesday, hitting $2.65. 92,653 shares of the stock traded hands, compared to its average volume of 174,233. CRH Medical has a 1 year low of $1.46 and a 1 year high of $9.25. The stock has a market capitalization of $200.14, a price-to-earnings ratio of 37.86 and a beta of 1.29.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its holdings in CRH Medical by 35.0% in the 2nd quarter. Advisor Group Inc. now owns 36,177 shares of the company’s stock worth $206,000 after acquiring an additional 9,389 shares during the last quarter. Vanguard Group Inc. purchased a new position in CRH Medical in the 2nd quarter worth approximately $150,000. PDT Partners LLC raised its holdings in CRH Medical by 176.4% in the 2nd quarter. PDT Partners LLC now owns 50,162 shares of the company’s stock worth $285,000 after acquiring an additional 32,013 shares during the last quarter. CIBC World Markets Inc. raised its holdings in CRH Medical by 16.4% in the 2nd quarter. CIBC World Markets Inc. now owns 277,406 shares of the company’s stock worth $1,581,000 after acquiring an additional 39,101 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in CRH Medical by 65.3% in the 3rd quarter. TD Asset Management Inc. now owns 111,054 shares of the company’s stock worth $289,000 after acquiring an additional 43,851 shares during the last quarter.

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CRH Medical Company Profile

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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