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

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

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

Chemed Stock Up 1.3 %

CHE stock opened at $570.63 on Friday. The company’s 50-day moving average price is $579.16 and its two-hundred day moving average price is $565.16. Chemed has a 12 month low of $523.33 and a 12 month high of $654.62. The firm has a market cap of $8.59 billion, a P/E ratio of 28.83, a P/E/G ratio of 2.24 and a beta of 0.46.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). The business had revenue of $606.18 million for the quarter, compared to analyst estimates of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. Chemed’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $5.32 EPS. Equities analysts predict that Chemed will post 22.26 EPS for the current year.

Chemed Dividend Announcement

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

Insider Activity

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

Institutional Trading of Chemed

Several institutional investors and hedge funds have recently modified their holdings of CHE. O Shaughnessy Asset Management LLC raised its holdings in shares of Chemed by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,641 shares of the company’s stock valued at $1,695,000 after purchasing an additional 183 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Chemed by 1.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 10,325 shares of the company’s stock worth $6,629,000 after buying an additional 169 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Chemed by 14.0% in the 1st quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after buying an additional 18 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Chemed in the 1st quarter worth approximately $216,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Chemed by 12.3% in the first quarter. Advisors Asset Management Inc. now owns 4,649 shares of the company’s stock valued at $2,984,000 after acquiring an additional 510 shares in the last quarter. 95.85% of the stock is 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.