CRH Medical (NYSEAMERICAN:CRHM) Lifted to “Hold” at Zacks Investment Research

CRH Medical (NYSEAMERICAN:CRHM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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, Bloom Burton upgraded CRH Medical from an “accumulate” rating to a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $3.25.

CRH Medical stock traded up $0.07 during midday trading on Tuesday, reaching $3.29. 37,100 shares of the company’s stock were exchanged, compared to its average volume of 66,295. CRH Medical has a 52 week low of $2.51 and a 52 week high of $4.50.

CRH Medical (NYSEAMERICAN:CRHM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $30.48 million for the quarter, compared to the consensus estimate of $29.50 million.

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted 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 worth $2,029,000 after acquiring an additional 22,500 shares during the period. Wedge Capital Management L L P NC boosted 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 worth $316,000 after acquiring an additional 24,347 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of CRH Medical by 12.6% during the fourth quarter. Two Sigma Advisers LP now owns 220,300 shares of the company’s stock worth $675,000 after acquiring an additional 24,700 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in shares of CRH Medical by 1.7% during the second quarter. Pacific Ridge Capital Partners LLC now owns 2,111,335 shares of the company’s stock worth $6,397,000 after acquiring an additional 34,687 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of CRH Medical during the first quarter worth approximately $236,000.

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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