Chemed (NYSE:CHE) Raised to Buy at StockNews.com

Chemed (NYSE:CHE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price target on Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a research note on Monday, March 4th.

Chemed Price Performance

Chemed stock opened at $561.65 on Friday. The business has a 50 day simple moving average of $620.66 and a 200-day simple moving average of $592.67. Chemed has a 12 month low of $492.84 and a 12 month high of $654.62. The stock has a market capitalization of $8.50 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46.

Chemed (NYSE:CHE) last released its 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). The firm had revenue of $589.23 million during the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. As a group, equities research analysts anticipate that Chemed will post 21.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the sale, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction on 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 transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,808 shares of company stock worth $10,184,531. 3.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chemed

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Chemed by 3.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 534,123 shares of the company’s stock valued at $277,584,000 after buying an additional 17,487 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Chemed by 0.3% in the third quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock valued at $200,727,000 after acquiring an additional 1,044 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Chemed by 4.2% during the third quarter. Impax Asset Management Group plc now owns 311,191 shares of the company’s stock valued at $161,726,000 after acquiring an additional 12,608 shares during the last quarter. JPMorgan Chase & Co. increased its position in Chemed by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock worth $149,355,000 after purchasing an additional 24,161 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Chemed by 2.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 228,040 shares of the company’s stock valued at $118,513,000 after purchasing an additional 4,802 shares during 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.