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 report sent to investors on Saturday.

Separately, Royal Bank of Canada decreased their price target on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Chemed Price Performance

Shares of NYSE:CHE opened at $566.43 on Friday. The firm’s 50-day moving average is $577.81 and its two-hundred day moving average is $565.04. Chemed has a 1 year low of $523.33 and a 1 year high of $654.62. The firm has a market capitalization of $8.52 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 2.43 and a beta of 0.46.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.76 by ($0.12). The company had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.32 earnings per share. Analysts expect that Chemed will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, November 18th. Chemed’s payout ratio is currently 10.11%.

Insiders Place Their Bets

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the transaction, the chief executive officer now directly owns 103,735 shares in the company, valued at $62,117,555.35. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. This trade represents a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,845 shares of company stock valued at $3,978,798. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Chemed

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after buying an additional 22 shares during the last quarter. American National Bank & Trust purchased a new stake in Chemed in the third quarter valued at approximately $61,000. Mather Group LLC. increased its position in Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after purchasing an additional 69 shares during the last quarter. Quarry LP raised its stake in Chemed by 721.7% during the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after purchasing an additional 166 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in shares of Chemed in the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Company Profile

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.