Cantor Fitzgerald analyst Joseph France maintained a Hold rating on CRH Medical Corporation (NYSE: CRHM) today and set a price target of $3. The company’s shares opened today at $3.87.
France wrote:
“We rate CRHM Neutral. We believe increasing numbers of gastroenterology practices will outsource anesthesia services in order to focus on clinical outcomes, improve operating efficiency and strengthen financial performance, but we have concerns about reimbursement and a lack of visibility on progress toward future acquisitions. $3 price target is a blend of our DCF analysis and comparable company multiples, and factors in future acquisitions, which we view as crucial to the company’s business development.”
According to TipRanks.com, France is a 5-star analyst with an average return of 10.0% and a 58.2% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Addus Homecare Corp.
CRH Medical Corporation has an analyst consensus of Hold, with a price target consensus of $3.
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Based on CRH Medical Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.3 million. In comparison, last year the company had a net profit of $2.23 million.
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CRH Medical Corp. engages in the provision of gastroenterologists with innovative services and products for the treatment of gastrointestinal diseases. It offers CRH O’Regan System, which focuses on physician education, patient outcomes, and patient awareness. The company was founded in 2000 and is headquartered in Vancouver, Canada.
