Chemed (NYSE:CHE – Free Report) had its price target raised by Oppenheimer from $590.00 to $625.00 in a report released on Thursday, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded Chemed from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Weiss Ratings raised Chemed from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their price target on Chemed from $436.00 to $548.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Bank of America restated a “neutral” rating on shares of Chemed in a report on Wednesday, July 29th. Finally, UBS Group initiated coverage on shares of Chemed in a research note on Friday, September 25th. They issued a “buy” rating and a $650.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $603.00.
Check Out Our Latest Research Report on CHE
Chemed Price Performance
Chemed stock opened at $533.99 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.11 and a quick ratio of 0.89. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. The firm has a 50-day moving average of $514.64 and a two-hundred day moving average of $462.97. Chemed has a 1 year low of $365.20 and a 1 year high of $562.24.
Chemed (NYSE:CHE – Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, topping analysts’ consensus estimates of $6.44 by $0.31. Chemed had a net margin of 10.61% and a return on equity of 35.18%. The business had revenue of $690.94 million for the quarter, compared to analyst estimates of $685.04 million. During the same period last year, the company posted $5.27 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Chemed will post 24.05 earnings per share for the current year.
Chemed Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Monday, August 17th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Chemed’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, August 17th. Chemed’s payout ratio is presently 13.40%.
Insider Buying and Selling
In other news, EVP Spencer S. Lee sold 1,000 shares of Chemed stock in a transaction on Friday, August 21st. The stock was sold at an average price of $541.04, for a total value of $541,040.00. Following the transaction, the executive vice president directly owned 13,912 shares in the company, valued at approximately $7,526,948.48. This trade represents a 6.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $539.51, for a total value of $1,079,020.00. Following the completion of the transaction, the chief executive officer directly owned 70,418 shares of the company’s stock, valued at approximately $37,991,215.18. The trade was a 2.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,000 shares of company stock valued at $4,732,080 in the last three months. 3.33% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Chemed
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Chemed during the 2nd quarter valued at about $691,290,000. Bank of America Corp DE purchased a new position in shares of Chemed in the second quarter worth about $48,255,000. Caisse de depot et placement du Quebec purchased a new position in shares of Chemed in the second quarter worth about $44,309,000. Bank of New York Mellon Corp purchased a new position in shares of Chemed in the second quarter worth about $43,800,000. Finally, First Trust Advisors LP raised its position in Chemed by 24.7% during the 1st quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after buying an additional 46,791 shares during the last quarter. Institutional investors own 95.85% of the company’s stock.
Chemed Company Profile
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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