Chemed (NYSE:CHE) Lowered to “Hold” at StockNews.com

Chemed (NYSE:CHE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other research analysts also recently issued reports about the company. Oppenheimer boosted 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. Royal Bank of Canada boosted their target price on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th.

Chemed Trading Down 2.3 %

Shares of CHE traded down $13.03 during trading hours on Friday, hitting $560.31. The company had a trading volume of 102,418 shares, compared to its average volume of 80,056. The company has a market capitalization of $8.47 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.48 and a beta of 0.42. Chemed has a one year low of $492.84 and a one year high of $654.62. The company’s fifty day moving average price is $623.76 and its two-hundred day moving average price is $590.54.

Chemed (NYSE:CHE) last released its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.41). Chemed had a return on equity of 31.69% and a net margin of 12.36%. The company had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. Analysts forecast that Chemed will post 21.99 earnings per share for the current year.

Insider Buying and Selling at Chemed

In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the sale, the executive vice president now owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 completion of the transaction, the chief financial officer now owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the 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 transaction, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,808 shares of company stock worth $10,184,531. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Chemed in the fourth quarter valued at $92,359,000. TD Asset Management Inc raised its stake in Chemed by 164.3% in the fourth quarter. TD Asset Management Inc now owns 205,777 shares of the company’s stock valued at $120,328,000 after buying an additional 127,934 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Chemed by 121.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock valued at $118,760,000 after buying an additional 111,399 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Chemed in the fourth quarter valued at $430,970,000. Finally, Epoch Investment Partners Inc. raised its stake in Chemed by 85.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 152,162 shares of the company’s stock valued at $88,977,000 after buying an additional 70,001 shares in the last quarter. 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.