Chemed Corporation (NYSE:CHE – Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $514.55 and traded as high as $562.24. Chemed shares last traded at $534.7190, with a volume of 325,169 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wall Street Zen raised Chemed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Royal Bank Of Canada boosted their price objective on shares of Chemed from $548.00 to $585.00 and gave the stock a “sector perform” rating in a report on Thursday. Weiss Ratings upgraded shares of Chemed from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Bank of America reaffirmed a “neutral” rating on shares of Chemed in a research note on Wednesday, July 29th. Finally, Oppenheimer increased their target price on shares of Chemed from $590.00 to $625.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $603.00.
Check Out Our Latest Stock Analysis on CHE
Chemed Price Performance
The stock has a market cap of $6.98 billion, a PE ratio of 23.65, a PEG ratio of 2.07 and a beta of 0.51. The business’s 50-day simple moving average is $514.64 and its 200-day simple moving average is $462.97. The company has a quick ratio of 0.89, a current ratio of 1.11 and a debt-to-equity ratio of 0.27.
Chemed (NYSE:CHE – Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $6.75 earnings per share for the quarter, topping analysts’ consensus estimates of $6.44 by $0.31. The company had revenue of $690.94 million during the quarter, compared to analyst estimates of $685.04 million. Chemed had a net margin of 10.61% and a return on equity of 35.18%. Chemed’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.27 earnings per share. On average, research analysts expect that Chemed Corporation will post 23.87 EPS for the current fiscal year.
Chemed Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th were issued a $0.70 dividend. This is an increase from Chemed’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 17th. This represents a $2.80 annualized dividend and a yield of 0.5%. Chemed’s dividend payout ratio (DPR) is 14.06%.
Insider Activity at Chemed
In other news, EVP Spencer S. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $541.04, for a total transaction of $541,040.00. Following the transaction, the executive vice president directly owned 13,912 shares of the company’s stock, valued at approximately $7,526,948.48. The trade was a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $513.45, for a total value of $1,026,900.00. Following the transaction, the chief executive officer owned 66,418 shares of the company’s stock, valued at approximately $34,102,322.10. This represents a 2.92% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,000 shares of company stock valued at $4,732,080. Company insiders own 3.33% of the company’s stock.
Institutional Trading of Chemed
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Chemed during the second quarter valued at $691,290,000. Bank of America Corp DE purchased a new stake in Chemed in the second quarter worth about $48,255,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Chemed in the second quarter worth $44,309,000. Bank of New York Mellon Corp purchased a new stake in shares of Chemed during the second quarter worth about $43,800,000. Finally, First Trust Advisors LP lifted its stake in Chemed by 24.7% in the 1st quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after purchasing an additional 46,791 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.
About Chemed
Chemed Corporation (NYSE:CHE) is a Cincinnati, Ohio-based company that provides healthcare and residential and commercial services through two operating businesses: VITAS Healthcare and Roto-Rooter. Its operations serve customers primarily in the United States, with Roto-Rooter also providing services in Canada.
VITAS Healthcare is a provider of hospice and palliative care for individuals with advanced illnesses. The business delivers care in patients’ homes, hospice inpatient units, hospitals, nursing facilities and other care settings.
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