Chemed (NYSE:CHE) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Chemed (NYSE:CHE) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada lifted their target price on Chemed from $604.00 to $712.00 and gave the stock an outperform rating in a report on Monday, March 4th. Oppenheimer upped their target price on Chemed from $625.00 to $650.00 and gave the stock an outperform rating in a research note on Thursday, February 29th.

Chemed Price Performance

CHE stock traded up $2.00 during trading on Friday, hitting $561.65. 70,751 shares of the stock traded hands, compared to its average volume of 83,809. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62. The firm’s 50 day moving average is $620.66 and its two-hundred day moving average is $593.17.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The firm had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. As a group, analysts anticipate that Chemed will post 21.72 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.28%. Chemed’s dividend payout ratio (DPR) is presently 8.61%.

Insiders Place Their Bets

In other news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the transaction, the executive vice president now owns 20,760 shares in the company, valued at $13,320,654. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The disclosure for this sale can be found here. Insiders have sold 15,808 shares of company stock valued at $10,184,531 over the last ninety days. Company insiders own 3.32% of the company’s stock.

Institutional Trading of Chemed

A number of institutional investors and hedge funds have recently made changes to their positions in CHE. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Chemed by 3.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 534,123 shares of the company’s stock valued at $277,584,000 after buying an additional 17,487 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Chemed by 0.3% during the third quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock valued at $200,727,000 after purchasing an additional 1,044 shares during the last quarter. Impax Asset Management Group plc boosted its position in shares of Chemed by 4.2% in the 3rd quarter. Impax Asset Management Group plc now owns 311,191 shares of the company’s stock valued at $161,726,000 after purchasing an additional 12,608 shares during the period. JPMorgan Chase & Co. increased its stake in Chemed by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock worth $149,355,000 after purchasing an additional 24,161 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Chemed by 2.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 228,040 shares of the company’s stock worth $118,513,000 after buying an additional 4,802 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.