Chemed (NYSE:CHE) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Chemed (NYSE:CHE) from a buy rating to a hold rating in a report released on Friday.

Separately, Royal Bank of Canada reduced their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Chemed Stock Up 1.4 %

Shares of CHE opened at $570.96 on Friday. The firm’s fifty day moving average is $579.08 and its two-hundred day moving average is $565.00. The stock has a market cap of $8.59 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46. Chemed has a 52-week low of $523.33 and a 52-week high of $654.62.

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 business had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. During the same period in the prior year, the company posted $5.32 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that Chemed will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, November 18th. Chemed’s dividend payout ratio (DPR) is presently 10.11%.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the transaction, the chief executive officer now owns 103,735 shares of the company’s stock, valued at $62,117,555.35. This represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George J. Walsh III sold 400 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the sale, the director now directly owns 3,046 shares of the company’s stock, valued at $1,819,893.62. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,113 shares of company stock worth $2,411,905 in the last ninety days. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemed

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Chemed by 422.9% in the 2nd quarter. SG Americas Securities LLC now owns 7,551 shares of the company’s stock valued at $4,097,000 after purchasing an additional 6,107 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Chemed by 292.7% during the second quarter. Harbor Capital Advisors Inc. now owns 1,241 shares of the company’s stock worth $673,000 after buying an additional 925 shares during the period. Hsbc Holdings PLC grew its stake in shares of Chemed by 110.0% in the second quarter. Hsbc Holdings PLC now owns 10,638 shares of the company’s stock valued at $5,801,000 after buying an additional 5,572 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Chemed in the 2nd quarter valued at $7,812,000. Finally, Quest Partners LLC lifted its stake in Chemed by 634.3% during the 2nd quarter. Quest Partners LLC now owns 1,990 shares of the company’s stock worth $1,080,000 after acquiring an additional 1,719 shares in the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

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.