CRH Medical Corp. | StockChase
80
CRH Medical Corp. (CRH-T)

Last Price Recorded: $2.3200 on 2017-11-17

ON STOCKCHASE SINCE Jul 2009

biotechnology/pharmaceutical

CRH Medical Corp.


Signal Opinion Expert

2017-11-14

DON'T BUY
CRH Medical Corp. (CRH-T)

Thinks management got caught off guard with the Medicare/Medicaid changes. Listening to the calls, he didn’t have a lot of confidence. Their business model is a bit broken now. With the share price and valuation so low, they are not getting as much bang for their buck now. Heading into the tax loss season, this is probably going to be one of the big targets. He would sit on the sidelines, at least until the new year.

biotechnology/pharmaceutical
Ryan Modesto

Managing Partner, 5i Research

Price: $1.920
Owned: Unknown

2017-11-13

COMMENT
CRH Medical Corp. (CRH-T)

They are in the US mainly and partner with anesthesiologists, for gut surgeries.  There is a whole system in the US as to who can treat whom and what they will pay.  These guys have been hit because of lack of organic growth and the concern is whether the reduced amount the Medicaid is willing to pay will impact margins going forward.  He thinks it is overdone.

biotechnology/pharmaceutical
Brendan Caldwell

President, Caldwell Securities

Price: $2.080
Owned: Unknown

2017-11-08

PAST TOP PICK
CRH Medical Corp. (CRH-T)

(A Top Pick Nov 16/16. Down 71%.) A few things happened. Have had 2 reimbursement cuts. Hasn’t affecting earnings yet, but it will. It’s been an acquisition story and they’ve been buying anaesthesiology clinics using their stock as currency. That becomes difficult now because of the low stock price.

biotechnology/pharmaceutical
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investment Management Inc.

Price: $2.180
Owned: No

2017-10-19

DON'T BUY
CRH Medical Corp. (CRH-T)

It has not done anything at all for him and is on a short leash.  It is drifting back now.  He would be concerned about tax loss selling soon.  There is value there but don’t start a position.

biotechnology/pharmaceutical
Peter Hodson

CEO & Head of Research, 5i Research Inc.

Price: $2.940
Owned: Yes

2017-10-04

TOP PICK
CRH Medical Corp. (CRH-T)

Has been looking at this for over 2 years, and met management repeatedly. Was aware of the Short attack circulating this summer, which had some pretty interesting important points to make. When a share price goes from $12 to around $3, his view is that it was fully priced in and there was a big overreaction by the street. They are exclusively based in the US, and have a medical product that is used by gastroenterologists in the clinics, kind of a Trojan horse for them because they have the clinics that are using the medical product, so have a relationship with them. With a number of the clinics, they have effectively bought 50% of the clinic, which allows them to provide the anaesthesia services on behalf of the doctors who work there. A pristine balance sheet. (Analysts’ price target is $5.)

biotechnology/pharmaceutical
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $3.260
Owned: Yes

2017-09-28

SELL
CRH Medical Corp. (CRH-T)

He exited this story.  He was a big bull.  It came back for stock specific stories.  Multiple compression resulted from short reports. 

biotechnology/pharmaceutical
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $2.890
Owned: No

2017-09-18

HOLD
CRH Medical Corp. (CRH-T)

Had a tremendous run up to about $12, but got completely blindsided, and it pulled back heavily. Got stopped out around mid-$6. Thinks they are going to be okay long-term. There were some issues with insider selling at higher levels. If you own, continue to hold as it looks like it has bottomed.

biotechnology/pharmaceutical
Jason Del Vicario

Portfolio Manager, HollisWealth

Price: $3.190
Owned: No

2017-08-23

DON'T BUY
CRH Medical Corp. (CRH-T)

It had an amazing run this year.  It was a target of some short sellers, and then they missed on some earnings reports.  It is the worst for price momentum.  It is actually okay on valuation.  It has a decent balance sheet.  It is volatile and has poor price momentum.

biotechnology/pharmaceutical
Jason Mann

CIO & Co-Founder, Edgehill Patners

Price: $3.050
Owned: Unknown

2017-08-22

WEAK BUY
CRH Medical Corp. (CRH-T)

It fell apart and is now working itself back.  It got destroyed by credibility, short sellers came along and the stock has readjusted.  He thinks the worst is over.  It has earnings potential.

biotechnology/pharmaceutical
Peter Hodson

CEO & Head of Research, 5i Research Inc.

Price: $3.120
Owned: Yes

2017-08-15

COMMENT
CRH Medical Corp. (CRH-T)

A stock that is extremely popular with medical analysts. There has been a bit of a foul-up in performance and the stock has joined the Bear market. He doesn’t get the sense that it is as good as a lot of analysts seem to believe. You also have the setback of the Obama-care saga in the US.

biotechnology/pharmaceutical
Michael Smedley

Exec VP & Chief Investment Officer, Morgan Meighan & Associates

Price: $3.180
Owned: No

2017-08-02

COMMENT
CRH Medical Corp. (CRH-T)

Provides anaesthesia services for gastro-intestinal procedures. They operate in the US, and Medicare and Medicaid are evaluating what people can bill for services. The company has said that the net impact will probably result in an 8% decline in revenue and a 16%-18% decline in EBITDA. When the news broke, the shares dropped about 50%-65%, so it is getting to a time where it has probably been a little oversold. This is going to be higher risk, so you need to be able to withstand 5% moves on any given day. They just did another acquisition and there is a hint that they will be doing many more.

biotechnology/pharmaceutical
Ryan Modesto

Managing Partner, 5i Research

Price: $4.600
Owned: Unknown

2017-07-26

COMMENT
CRH Medical Corp. (CRH-T)

This has been hit extremely hard. It trades to a pretty significant multiple and probably got ahead of itself. On the news and speculation that some kind of reimbursement was going to come, the stock sold down. The code changes are not being reimbursed to the same degree. In the past, they’ve been able to use their currency to a certain degree to make acquisitions. They have just secured a bigger line, so it looks like they’ve shored up their business fairly well. Fairly good cash flow. The reimbursement is going to hurt them, and then the private pay insurance, the majority of their business, will end up coming down over time as well. They are going to have to replace the lost revenue with increased business, either organically or by acquisition.

biotechnology/pharmaceutical
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investment Management Inc.

Price: $4.260
Owned: Unknown

2017-07-24

COMMENT
CRH Medical Corp. (CRH-T)

News items make it difficult for anyone to analyze.  They have one of the best returns of capital.  The rules have changed.  Probably it is okay.  Usually the rule changes sound more threatening than they really are.

biotechnology/pharmaceutical
Matt Kacur

President, FSA Financial Science and Art

Price: $4.500
Owned: Unknown

2017-07-17

WATCH
CRH Medical Corp. (CRH-T)

He has no price target.  It is another great Canadian healthcare stock that got hammered a short while ago.  The reason for the most recent decline is that Central Medical Services has changed how they code some services.  This company should eventually be at higher prices, but he wants to see the dust settle.

biotechnology/pharmaceutical
Brendan Caldwell

President, Caldwell Securities

Price: $4.670
Owned: No

2017-07-13

HOLD
CRH Medical Corp. (CRH-T)

An outsourcer in medical clinics where they take a 50% stake in the business. Registered nurses are being paid as full medical doctors. Their profitability could be hit when they are re-rated. The argument goes on.  He thinks the short thesis is a little overplayed. 

biotechnology/pharmaceutical
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $6.620
Owned: Unknown

2017-07-10

COMMENT
CRH Medical Corp. (CRH-T)

When a Short report came out, this dropped about 30%. Had sold about half his position in the $11 range to take some risk off the table. The stock is now close to the level, where if it breaches it, he will be selling his position. Believes their business is strong. He likes the company, but is just a little worried about it technically right now. On a P/E ratio, they seem really expensive. They have a nice ROE.

biotechnology/pharmaceutical
Jason Del Vicario

Portfolio Manager, HollisWealth

Price: $6.750
Owned: Yes

2017-06-30

WATCH
CRH Medical Corp. (CRH-T)

Going ahead 3 or 4 years, he is pretty comfortable that the whole medical space will be higher. We are in a secular bull market with healthcare. It had a big spike down this year, but the range we are in now has provided some support. There was a low of $6.84 in May, but doesn’t think it is going back there. It seems to be basing around $7.23-$7.38. Look for this to break out at around $7.65-$7.73, which will tell him it is really getting some legs. It is probably going to base here for a while.

biotechnology/pharmaceutical
Hap (Robert) Sneddon FCSI

Chief Portfolio Manager & Founder, Castlemoore Inc.

Price: $7.380
Owned: Unknown

2017-06-22

PAST TOP PICK
CRH Medical Corp. (CRH-T)

(Top Pick Jun 30/16, Up 52%) It was almost $12 at one point and was really stretched, then a short report came out, all before he bought it.  He likes the business and feels they will continue to do well.  They have great cash flow for acquisitions. 

biotechnology/pharmaceutical
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investment Management Inc.

Price: $7.820
Owned: Yes

2017-05-25

COMMENT
CRH Medical Corp. (CRH-T)

This got up to $11-$12, where he thought it was a little ahead of itself. Markets were jittery and someone came out with a Short report, so a lot of Shorts piled on and the stock came off quite a bit. At the current value of around $8, it looks half decent. He is comfortable with management.

biotechnology/pharmaceutical
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $8.050
Owned: Yes

2017-05-05

COMMENT
CRH Medical Corp. (CRH-T)

A recent Short report made some interesting points. Although he doesn’t like serial acquisitors, he likes that this company is very focused on what they are doing. When they make an acquisition, they typically get 50%-51% of the business, so they consolidate it. Their revenue numbers are generally growing much faster than their earnings because they have to take out the minority interests. They are recognizing 100% of the revenues, but effectively are only getting 51% of the earnings. That was one of the thrusts of the Short report. The other was that they were being paid to use an MD to administer their deep sedation (used in colonoscopies), but using specially trained professional nurses instead. A decent company, he is just not sold on it yet.

biotechnology/pharmaceutical
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $8.510
Owned: No

2017-04-26

COMMENT
CRH Medical Corp. (CRH-T)

Ranks 222 out of 723 stocks in his model. If putting new money to work, you would typically look for something higher up in the rank. Currently trading at $9.12, and the overall earnings estimates for 2017 is $.28, giving a reasonable PE multiple. ROE of 25% looks attractive. Next year’s earnings growth is expected to be 21%, against a 28 PE, giving a PE to growth next year of 1.3X. It looks a bit expensive.

biotechnology/pharmaceutical
Robert McWhirter

President, Selective Asset Management

Price: $8.990
Owned: Unknown

2017-04-26

COMMENT
CRH Medical Corp. (CRH-T)

Just reported and beat street expectations. Revenue was expected to be $21.3 million, and came in at $22.5 million. Total operating earnings was up 63%. They continue to make acquisitions, and have great cash flow. Last week, there was a Short report which scared a lot of people, probably because of the valuation. He likes it here.

biotechnology/pharmaceutical
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investment Management Inc.

Price: $8.990
Owned: Yes

2017-04-11

PARTIAL BUY
CRH Medical Corp. (CRH-T)

He likes this. A bit of a rollup. They are buying portions of medical practices in the US, and then are installing anaesthesiologists to do anaesthetic services. The valuation is running up a bit, but if you are looking at Enterprise Value to a bit of multiple, it is about 16X. Still a bit pricey, but nothing too crazy. He likes that they are offering liquidity to doctors, who are starting to age and want to get some cash out of the business. Good insider ownership. Worth owning, but you might want to average into it.

biotechnology/pharmaceutical
Ryan Modesto

Managing Partner, 5i Research

Price: $12.030
Owned: No

2017-04-03

BUY
CRH Medical Corp. (CRH-T)

It is your classic breakout.  It is just pulling back now and then will continue back up.  It is a very bullish chart.

biotechnology/pharmaceutical
Keith Richards

Portfolio Manager, ValueTrend Wealth Management

Price: $10.920
Owned: Unknown

2017-03-13

COMMENT
CRH Medical Corp. (CRH-T)

A very strong company. ROC is astoundingly high. The valuation looks really good. From a pure, financial Return on Capital and valuation perspective, this looks really good.

biotechnology/pharmaceutical
Matt Kacur

President, FSA Financial Science and Art

Price: $10.720
Owned: Unknown

2017-03-10

BUY on WEAKNESS
CRH Medical Corp. (CRH-T)

Doesn’t think they will need to do an equity raise unless they do a big acquisition. They roughly have the cash flow they need to make an acquisition each quarter, of about the same size that they have been doing. His one caution is that the valuation is very high. Be prepared that an analyst could come out and say it is fully valued, resulting in the stock pulling back. If it did, it would probably be a great buying opportunity. Also, if they did an equity offering, that would be another great time to add to your holdings.

biotechnology/pharmaceutical
Bruce Campbell (2)

President & Portfolio Manager, Stone Castle Investment Management Inc.

Price: $10.380
Owned: Unknown

2017-02-28

HOLD
CRH Medical Corp. (CRH-T)

Involved with gastrointestinal, and they work with anesthesia to provide for colonoscopies, etc. They’ve been trying to consolidate the market. Just reported a blowout quarter and the stock moved up quite a bit. Management has done a great job of under promising and over delivering.

biotechnology/pharmaceutical
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $9.190
Owned: Yes

2017-02-22

HOLD
CRH Medical Corp. (CRH-T)

This tends to be a serial acquirer, and he generally doesn’t like these. However, in this case he likes management and feels they are very competent.

biotechnology/pharmaceutical
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $8.570
Owned: No

2017-01-24

BUY
CRH Medical Corp. (CRH-T)

Has done tremendously well. Broke out of a trading range at about $5.50 on heavy volume. It has a high cash ROE and a relatively low P/E ratio. Feels they are getting to be more well known, but they don’t have a wide analyst following, which he would like to see. Expects the stock price to consolidate at around the $7.50-$8.50 level. Assuming they can continue to grow their earnings and add more facilities to their portfolio, the stock certainly has room to run. Represents decent value at these levels.

biotechnology/pharmaceutical
Jason Del Vicario

Portfolio Manager, HollisWealth

Price: $7.990
Owned: Yes

2017-01-06

BUY
CRH Medical Corp. (CRH-T)

ROC on this is tremendous. He has it as 104%, which is almost unheard of. Also, it looks undervalued.

biotechnology/pharmaceutical
Matt Kacur

President, FSA Financial Science and Art

Price: $7.810
Owned: Unknown

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