Zacks Investment Research Upgrades CRH Medical (CRHM) to Buy

CRH Medical (NYSEAMERICAN:CRHM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, January 8th. The brokerage presently has a $3.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.21% from the stock’s previous close.

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 research note on Friday, November 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $6.00.

CRH Medical (NYSEAMERICAN:CRHM) opened at $2.65 on Monday. CRH Medical has a 1 year low of $1.46 and a 1 year high of $9.25. The stock has a market cap of $200.14, a PE ratio of 37.86 and a beta of 1.29.

CRH Medical (NYSEAMERICAN:CRHM) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The company had revenue of $23.35 million for the quarter, compared to analyst estimates of $22.70 million.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in shares of CRH Medical during the second quarter valued at about $150,000. Advisor Group Inc. increased its position in shares of CRH Medical by 35.0% during the second quarter. Advisor Group Inc. now owns 36,177 shares of the company’s stock valued at $206,000 after buying an additional 9,389 shares during the period. PDT Partners LLC increased its position in shares of CRH Medical by 176.4% during the second quarter. PDT Partners LLC now owns 50,162 shares of the company’s stock valued at $285,000 after buying an additional 32,013 shares during the period. TD Asset Management Inc. increased its position in shares of CRH Medical by 65.3% during the third quarter. TD Asset Management Inc. now owns 111,054 shares of the company’s stock valued at $289,000 after buying an additional 43,851 shares during the period. Finally, Swiss National Bank purchased a new position in shares of CRH Medical during the second quarter valued at about $709,000.

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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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Analyst Recommendations for CRH Medical (NYSEAMERICAN:CRHM)

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