CRH Medical Co. (CRHM) Sees Significant Increase in Short Interest

CRH Medical Co. (NYSEAMERICAN:CRHM) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,331,365 shares, a growth of 11.0% from the October 13th total of 1,198,901 shares. Based on an average trading volume of 93,628 shares, the short-interest ratio is presently 14.2 days. Currently, 1.9% of the company’s stock are sold short.

A number of brokerages have recently issued reports on CRHM. Zacks Investment Research cut CRH Medical from a “hold” rating to a “sell” rating in a research note on Tuesday. Canaccord Genuity dropped their price objective on CRH Medical from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. National Bank Financial upgraded CRH Medical from a “sector perform” rating to an “outperform” rating in a research note on Friday, August 4th. Scotiabank upgraded CRH Medical from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, July 24th. Finally, Royal Bank Of Canada upgraded CRH Medical from a “sector perform” rating to an “outperform” rating in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.83.

Shares of CRH Medical (NYSEAMERICAN:CRHM) opened at $1.70 on Thursday. CRH Medical has a 12 month low of $1.46 and a 12 month high of $9.25.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp raised its stake in CRH Medical by 7.7% in the 3rd quarter. Stifel Financial Corp now owns 1,665,839 shares of the company’s stock valued at $4,332,000 after acquiring an additional 119,685 shares during the period. JPMorgan Chase & Co. raised its stake in CRH Medical by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 410,100 shares of the company’s stock valued at $964,000 after acquiring an additional 167,600 shares during the period. TD Asset Management Inc. raised its stake in CRH Medical by 65.3% in the 3rd quarter. TD Asset Management Inc. now owns 111,054 shares of the company’s stock valued at $289,000 after acquiring an additional 43,851 shares during the period. Mawer Investment Management Ltd. raised its stake in CRH Medical by 25.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 5,963,519 shares of the company’s stock valued at $15,542,000 after acquiring an additional 1,221,028 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in CRH Medical by 513.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 736,350 shares of the company’s stock valued at $1,914,000 after acquiring an additional 616,239 shares during the period.

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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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