Zacks Investment Research upgraded shares of CRH Medical (NYSEAMERICAN:CRHM) from a sell rating to a hold rating in a research report released on Friday, 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. “
A number of other analysts also recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of CRH Medical from $4.75 to $4.00 and set an outperform rating on the stock in a report on Thursday, May 14th. Canaccord Genuity boosted their price target on CRH Medical from $3.00 to $3.50 and gave the stock a buy rating in a research note on Friday. Finally, Beacon Securities downgraded CRH Medical from a buy rating to a hold rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CRH Medical has an average rating of Buy and a consensus price target of $3.67.
Shares of CRHM stock opened at $2.09 on Friday. CRH Medical has a 12-month low of $0.86 and a 12-month high of $4.43.
CRH Medical (NYSEAMERICAN:CRHM) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The business had revenue of $25.46 million during the quarter, compared to analysts’ expectations of $28.70 million.
In other CRH Medical news, Director David Allan Johnson purchased 15,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $1.98 per share, for a total transaction of $29,700.00.
Several large investors have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in shares of CRH Medical during the first quarter valued at $41,000. Vestor Capital LLC purchased a new position in CRH Medical in the 4th quarter valued at about $55,000. Spark Investment Management LLC acquired a new stake in shares of CRH Medical during the 4th quarter worth about $62,000. Deutsche Bank AG grew its holdings in shares of CRH Medical by 182.8% during the first quarter. Deutsche Bank AG now owns 66,100 shares of the company’s stock worth $89,000 after buying an additional 42,726 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of CRH Medical in the first quarter valued at approximately $171,000.
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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