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

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

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

Chemed Stock Up 1.7 %

NYSE:CHE opened at $580.70 on Friday. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.29 and a beta of 0.46. Chemed has a 52 week low of $492.84 and a 52 week high of $654.62. The firm has a 50 day moving average of $619.79 and a 200 day moving average of $594.55.

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

Chemed Dividend Announcement

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

Insider Transactions at Chemed

In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total value of $1,704,321.00. Following the completion of the transaction, the chief financial officer now owns 2,882 shares in the company, valued at $1,853,529.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the transaction, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,808 shares of company stock worth $10,184,531. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chemed

Hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. raised its stake in Chemed by 1.8% during the 3rd quarter. Xponance Inc. now owns 2,974 shares of the company’s stock valued at $1,546,000 after acquiring an additional 54 shares during the last quarter. Raymond James & Associates raised its position in Chemed by 2.7% during the 3rd quarter. Raymond James & Associates now owns 64,264 shares of the company’s stock worth $33,398,000 after buying an additional 1,669 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Chemed by 21.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,425 shares of the company’s stock worth $1,260,000 after acquiring an additional 422 shares during the period. Invesco LLC boosted its holdings in shares of Chemed by 33.9% in the third quarter. Invesco LLC now owns 667 shares of the company’s stock valued at $347,000 after acquiring an additional 169 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Chemed by 3.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 2,072 shares of the company’s stock worth $1,077,000 after acquiring an additional 61 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

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.