Short Interest in CRH Medical (CRHM) Decreases By 25.2%

CRH Medical (NYSEAMERICAN:CRHM) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 677,487 shares, a decrease of 25.2% from the April 30th total of 905,315 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 165,751 shares, the short-interest ratio is currently 4.1 days.

Separately, Zacks Investment Research raised CRH Medical from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Tuesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $4.00.

Shares of CRH Medical opened at $3.50 on Friday, according to MarketBeat.com. CRH Medical has a 1 year low of $1.46 and a 1 year high of $6.22.

CRH Medical (NYSEAMERICAN:CRHM) last issued its earnings results on Monday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The company had revenue of $24.67 million during the quarter, compared to analyst estimates of $21.70 million.

Several institutional investors and hedge funds have recently modified their holdings of CRHM. Pacific Ridge Capital Partners LLC raised its holdings in shares of CRH Medical by 69.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 2,163,944 shares of the company’s stock worth $5,734,000 after buying an additional 890,300 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of CRH Medical by 20.7% in the 1st quarter. Stifel Financial Corp now owns 2,164,750 shares of the company’s stock worth $5,526,000 after buying an additional 371,362 shares in the last quarter. UBS Group AG raised its holdings in shares of CRH Medical by 720.0% in the 1st quarter. UBS Group AG now owns 205,000 shares of the company’s stock worth $523,000 after buying an additional 180,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CRH Medical by 21.9% in the 1st quarter. JPMorgan Chase & Co. now owns 899,700 shares of the company’s stock worth $2,294,000 after buying an additional 161,800 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of CRH Medical in the 4th quarter worth approximately $301,000.

About CRH Medical

CRH Medical Corporation provides various products and services to gastroenterologists for the treatment of gastrointestinal diseases in the United States, Canada, and internationally. It offers CRH O'Regan system, a single use, disposable, and hemorrhoid banding technology for treating various grades of hemorrhoid.

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