CRH Medical Corp.

CRH-T

Analysis and Opinions about CRH-T

Signal
Opinion
Expert
COMMENT
COMMENT
April 26, 2017

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.

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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.

COMMENT
COMMENT
April 26, 2017

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.

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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.

PARTIAL BUY
PARTIAL BUY
April 11, 2017

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.

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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.

BUY
BUY
April 3, 2017

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

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

COMMENT
COMMENT
March 13, 2017

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.

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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.

BUY WEAKNESS
BUY WEAKNESS
March 10, 2017

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.

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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.

HOLD
HOLD
February 28, 2017

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.

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CRH Medical Corp. (CRH-T)
February 28, 2017

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.

HOLD
HOLD
February 22, 2017

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.

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CRH Medical Corp. (CRH-T)
February 22, 2017

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.

BUY
BUY
January 24, 2017

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.

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CRH Medical Corp. (CRH-T)
January 24, 2017

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.

BUY
BUY
January 6, 2017

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

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

COMMENT
COMMENT
January 3, 2017

Technically, this looks fantastic. On any medical type stocks, you go with the wave. Right now the wave is up, and if he had to Buy or Sell it, he would buy.

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Technically, this looks fantastic. On any medical type stocks, you go with the wave. Right now the wave is up, and if he had to Buy or Sell it, he would buy.

BUY
BUY
December 20, 2016

It is a buy or a hold. He is one of the largest holders. This has been a top pick of his. It is a health care company, the top performing one in Canada this year. They did a very good job at increasing their earnings. Last quarter the stock took off. A lot more small cap managers are looking at it now. He likes the management team from a previous company.

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CRH Medical Corp. (CRH-T)
December 20, 2016

It is a buy or a hold. He is one of the largest holders. This has been a top pick of his. It is a health care company, the top performing one in Canada this year. They did a very good job at increasing their earnings. Last quarter the stock took off. A lot more small cap managers are looking at it now. He likes the management team from a previous company.

SELL
SELL
December 5, 2016

A good little Canadian medical story. Operates primarily in the US, and has been rolling up some healthcare services. He is cautious in this area right now. The US health business is pretty complicated right now, as there are a bunch of pieces to it, unlike the Canadian system. One segment of this company has a fair bit of “off network” business, which pays much better than being paid by Medicare and Medicaid, but sometimes it is hard to get paid, as insurers take their time. Companies like this could be under a bit of pressure next year, so he would be cautious. At this point he wouldn’t be owning it.

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CRH Medical Corp. (CRH-T)
December 5, 2016

A good little Canadian medical story. Operates primarily in the US, and has been rolling up some healthcare services. He is cautious in this area right now. The US health business is pretty complicated right now, as there are a bunch of pieces to it, unlike the Canadian system. One segment of this company has a fair bit of “off network” business, which pays much better than being paid by Medicare and Medicaid, but sometimes it is hard to get paid, as insurers take their time. Companies like this could be under a bit of pressure next year, so he would be cautious. At this point he wouldn’t be owning it.

TOP PICK
TOP PICK
November 16, 2016

This continues to grow by acquisition. They have 2 different product lines, but the anaesthesiology side is where they are really starting to grow. Generating between $5-$6 million in cash flow per quarter, along with a line that allows them to continue to make acquisitions. They’ve been pretty disciplined about how they have done this. (Analysts’ price target is $7.52.)

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CRH Medical Corp. (CRH-T)
November 16, 2016

This continues to grow by acquisition. They have 2 different product lines, but the anaesthesiology side is where they are really starting to grow. Generating between $5-$6 million in cash flow per quarter, along with a line that allows them to continue to make acquisitions. They’ve been pretty disciplined about how they have done this. (Analysts’ price target is $7.52.)

COMMENT
COMMENT
October 26, 2016

The company is not going to be out raising money, but are going to be doing smaller tuck in acquisitions. They are in the acquisition business. If they have the cash flow to fund an acquisition, they will be fine, but if not and it is something bigger, they’ll probably have to go to the market.

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CRH Medical Corp. (CRH-T)
October 26, 2016

The company is not going to be out raising money, but are going to be doing smaller tuck in acquisitions. They are in the acquisition business. If they have the cash flow to fund an acquisition, they will be fine, but if not and it is something bigger, they’ll probably have to go to the market.

HOLD
HOLD
October 20, 2016

This has spent the last 18 months consolidating, and has just recently broke out of a trading range at around the $5.40-$5.50 level. He sees a lot of upside in this. A very well-run company. Their cash ROE is north of 30%, and their cash P/E ratio is at around 10 or 11.

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CRH Medical Corp. (CRH-T)
October 20, 2016

This has spent the last 18 months consolidating, and has just recently broke out of a trading range at around the $5.40-$5.50 level. He sees a lot of upside in this. A very well-run company. Their cash ROE is north of 30%, and their cash P/E ratio is at around 10 or 11.

HOLD
HOLD
September 29, 2016

He really likes the management team. He continues to hold it although the whole healthcare sector has been under scrutiny. Their earnings have grown as they made tuck-in acquisitions. They recently did some marketing. Over the next couple of years earnings estimates should go up.

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CRH Medical Corp. (CRH-T)
September 29, 2016

He really likes the management team. He continues to hold it although the whole healthcare sector has been under scrutiny. Their earnings have grown as they made tuck-in acquisitions. They recently did some marketing. Over the next couple of years earnings estimates should go up.

COMMENT
COMMENT
September 21, 2016

They continue to execute. Did a big acquisition almost 2 years ago, and now are just doing smaller incremental acquisitions that continue to build out their business. He thinks the process will continue. This has bumped up a little in valuation, and as a result it dropped down in his ranking, so he recently sold his holdings. He wouldn’t be surprised if there was an equity issue from the company in the future.

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CRH Medical Corp. (CRH-T)
September 21, 2016

They continue to execute. Did a big acquisition almost 2 years ago, and now are just doing smaller incremental acquisitions that continue to build out their business. He thinks the process will continue. This has bumped up a little in valuation, and as a result it dropped down in his ranking, so he recently sold his holdings. He wouldn’t be surprised if there was an equity issue from the company in the future.

BUY WEAKNESS
BUY WEAKNESS
September 6, 2016

A good, small-cap, Canadian health care stock. A teensy bit too expensive for him right now. He likes where the business is going. Would be a buyer at the bottom of the 52-week trading range. He likes management and the board. (See Top Picks.)

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CRH Medical Corp. (CRH-T)
September 6, 2016

A good, small-cap, Canadian health care stock. A teensy bit too expensive for him right now. He likes where the business is going. Would be a buyer at the bottom of the 52-week trading range. He likes management and the board. (See Top Picks.)

COMMENT
COMMENT
September 2, 2016

This is one of the stocks that gets bucketed into the healthcare rollup. Scores well on price momentum and on valuation. Has a good balance sheet and have been growing their earnings. However, they missed on their recent quarter. If looking to play some of these “growth by acquisition” stories, this would be the one to play.

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CRH Medical Corp. (CRH-T)
September 2, 2016

This is one of the stocks that gets bucketed into the healthcare rollup. Scores well on price momentum and on valuation. Has a good balance sheet and have been growing their earnings. However, they missed on their recent quarter. If looking to play some of these “growth by acquisition” stories, this would be the one to play.

COMMENT
COMMENT
August 19, 2016

They have a product that they have been marketing and selling for some time, and are taking the cash flow from that and putting it into acquiring anaesthesiology clinics in the US. Feels this is quite undervalued given their growth prospects. They are growing their bottom line by 30% a year. He likes this a lot.

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They have a product that they have been marketing and selling for some time, and are taking the cash flow from that and putting it into acquiring anaesthesiology clinics in the US. Feels this is quite undervalued given their growth prospects. They are growing their bottom line by 30% a year. He likes this a lot.

BUY
BUY
August 18, 2016

He likes this whole space on a secular basis. You will have a wide disparity across the whole spectrum of stocks. We found a breakout at the beginning of August. There is support from the end of June. It made a move when it was supposed to. This stock has a nice trend. It has been in a nice band since the beginning of last year. There is some heavy duty volatility also.

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He likes this whole space on a secular basis. You will have a wide disparity across the whole spectrum of stocks. We found a breakout at the beginning of August. There is support from the end of June. It made a move when it was supposed to. This stock has a nice trend. It has been in a nice band since the beginning of last year. There is some heavy duty volatility also.

PAST TOP PICK
PAST TOP PICK
July 20, 2016

(A Top Pick Sept 28/15. Up 23.28%.) Not sure who is buying this, but somebody is buying quite a bit of stock. Most healthcare stocks in Canada have not done well, but this one has. He really likes management, which underpromises and overdelivers. Recently made a few acquisitions which should be accretive. Only trading at about 8.5X EBITDA with very good growth over the next couple of years.

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(A Top Pick Sept 28/15. Up 23.28%.) Not sure who is buying this, but somebody is buying quite a bit of stock. Most healthcare stocks in Canada have not done well, but this one has. He really likes management, which underpromises and overdelivers. Recently made a few acquisitions which should be accretive. Only trading at about 8.5X EBITDA with very good growth over the next couple of years.

TOP PICK
TOP PICK
June 30, 2016

It has news out today. They have a consistent growth business and an acquisition business. They are making nice earnings growth. They buy a business for half what the stock trades for. They are slow and steady about it. They expanded into the US. Trading at a reasonable multiple. A year from now they will have done more acquisitions.

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It has news out today. They have a consistent growth business and an acquisition business. They are making nice earnings growth. They buy a business for half what the stock trades for. They are slow and steady about it. They expanded into the US. Trading at a reasonable multiple. A year from now they will have done more acquisitions.

BUY WEAKNESS
BUY WEAKNESS
June 30, 2016

This has had a move at around the $4.50 level followed by a breakout. A pretty volatile stock. It looks like it wants to come back, so if you don’t own it, you will probably get your chance. If it gets about $5.10, it looks like it wants to have the $7 target. The whole space is a good place to be.

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This has had a move at around the $4.50 level followed by a breakout. A pretty volatile stock. It looks like it wants to come back, so if you don’t own it, you will probably get your chance. If it gets about $5.10, it looks like it wants to have the $7 target. The whole space is a good place to be.

COMMENT
COMMENT
June 3, 2016

A little small for him, so he doesn’t own it. This is one of the healthcare rollup’s that has done it right. Valuation is pretty reasonable, especially one compared to some of their peers. They beat on their recent quarter, and are starting to generate cash flow. The balance sheet is in very good shape. They have managed to do acquisitions without debt, which is key for this type of business.

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A little small for him, so he doesn’t own it. This is one of the healthcare rollup’s that has done it right. Valuation is pretty reasonable, especially one compared to some of their peers. They beat on their recent quarter, and are starting to generate cash flow. The balance sheet is in very good shape. They have managed to do acquisitions without debt, which is key for this type of business.

COMMENT
COMMENT
May 19, 2016

They are in the gastro anesthesiology business. They have found a couple of pretty good niches. They are market leaders in the markets they are operating in. They are now integrating the acquisitions. Impressive management team. It is a growth stock and not a value stock. He would like to meet them, however.

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They are in the gastro anesthesiology business. They have found a couple of pretty good niches. They are market leaders in the markets they are operating in. They are now integrating the acquisitions. Impressive management team. It is a growth stock and not a value stock. He would like to meet them, however.

PAST TOP PICK
PAST TOP PICK
May 12, 2016

(Top Pick Jun 19/15, Down 9.00%) They have done a good job. They don’t need to raise prices. 9 times earnings. They are probably looking for acquisitions. The balance sheet looks good. A premier small cap name so he continues to hold it.

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(Top Pick Jun 19/15, Down 9.00%) They have done a good job. They don’t need to raise prices. 9 times earnings. They are probably looking for acquisitions. The balance sheet looks good. A premier small cap name so he continues to hold it.

WEAK BUY
WEAK BUY
April 21, 2016

A good health care services firm. This would be a Hold to a Weak Buy at this time. Really likes what they have done longer-term. If you can get this at the bottom of the 52 week trading range, that would be his Buy point. He likes management and what they are doing long term.

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A good health care services firm. This would be a Hold to a Weak Buy at this time. Really likes what they have done longer-term. If you can get this at the bottom of the 52 week trading range, that would be his Buy point. He likes management and what they are doing long term.

DON'T BUY
DON'T BUY
April 7, 2016

From a seasonal perspective, you want to be looking more to the June timeframe. The chart shows a bit of resistance, and is now pulling back. There is a bit of head and shoulders topping pattern, which implies downside potential to almost $3.60. There is probably not much reason to get into this.

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From a seasonal perspective, you want to be looking more to the June timeframe. The chart shows a bit of resistance, and is now pulling back. There is a bit of head and shoulders topping pattern, which implies downside potential to almost $3.60. There is probably not much reason to get into this.

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