Chemed (NYSE:CHE) Trading 7.1% Higher – What’s Next?

Chemed Co. (NYSE:CHE) traded up 7.1% during mid-day trading on Thursday . The company traded as high as $595.92 and last traded at $584.61. 131,939 shares were traded during mid-day trading, an increase of 42% from the average session volume of 92,597 shares. The stock had previously closed at $545.79.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank of Canada dropped their price target on Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a research report on Thursday.

Chemed Stock Performance

The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.15 and a beta of 0.48. The company’s 50 day simple moving average is $546.69 and its 200 day simple moving average is $563.45.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, February 24th. Chemed’s dividend payout ratio is currently 10.11%.

Insider Buying and Selling at Chemed

In other Chemed news, VP Brian C. Judkins bought 145 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the transaction, the vice president now directly owns 1,678 shares of the company’s stock, valued at $871,721. This represents a 9.46 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of Chemed

Large investors have recently made changes to their positions in the stock. Creative Planning boosted its holdings in shares of Chemed by 57.3% during the 3rd quarter. Creative Planning now owns 1,932 shares of the company’s stock worth $1,161,000 after buying an additional 704 shares during the period. Assenagon Asset Management S.A. acquired a new position in Chemed during the 3rd quarter worth $2,301,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Chemed by 6.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,175 shares of the company’s stock valued at $706,000 after acquiring an additional 75 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Chemed by 4.5% in the third quarter. First Trust Direct Indexing L.P. now owns 887 shares of the company’s stock valued at $533,000 after purchasing an additional 38 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Chemed by 2,314.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock valued at $203,000 after purchasing an additional 324 shares during the period. Institutional investors own 95.85% of the company’s stock.

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.