Chemed (NYSE:CHE) Reaches New 52-Week High at $590.58

Chemed Co. (NYSE:CHE) shares hit a new 52-week high on Monday . The company traded as high as $590.58 and last traded at $582.72, with a volume of 78601 shares. The stock had previously closed at $582.05.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHE. Royal Bank of Canada lifted their price target on Chemed from $576.00 to $604.00 and gave the stock an “outperform” rating in a research note on Monday, October 30th. StockNews.com initiated coverage on Chemed in a research note on Thursday, October 5th. They issued a “buy” rating on the stock.

Chemed Stock Performance

The company has a 50 day simple moving average of $529.24 and a two-hundred day simple moving average of $531.75. The company has a market cap of $8.81 billion, a PE ratio of 36.37, a PEG ratio of 3.39 and a beta of 0.49.

Chemed (NYSE:CHE) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.92 by $0.40. The business had revenue of $564.53 million during the quarter, compared to analysts’ expectations of $558.42 million. Chemed had a return on equity of 32.87% and a net margin of 10.99%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.74 EPS. As a group, analysts expect that Chemed Co. will post 19.3 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.27%. Chemed’s payout ratio is 9.91%.

Insider Activity at Chemed

In related news, CFO David Patrick Williams sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $583.85, for a total value of $3,503,100.00. Following the completion of the sale, the chief financial officer now owns 15,826 shares of the company’s stock, valued at approximately $9,240,010.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Chemed news, CEO Kevin J. Mcnamara sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $560.68, for a total transaction of $2,803,400.00. Following the completion of the sale, the chief executive officer now owns 112,968 shares of the company’s stock, valued at $63,338,898.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Patrick Williams sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $583.85, for a total value of $3,503,100.00. Following the sale, the chief financial officer now directly owns 15,826 shares of the company’s stock, valued at approximately $9,240,010.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,217 shares of company stock valued at $9,920,995. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chemed

Large investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in shares of Chemed by 400.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 75 shares of the company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. Janiczek Wealth Management LLC boosted its position in shares of Chemed by 75.6% in the second quarter. Janiczek Wealth Management LLC now owns 79 shares of the company’s stock valued at $43,000 after acquiring an additional 34 shares during the period. Blume Capital Management Inc. bought a new stake in shares of Chemed in the second quarter valued at approximately $43,000. Altshuler Shaham Ltd boosted its position in shares of Chemed by 60.8% in the first quarter. Altshuler Shaham Ltd now owns 82 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares during the period. Finally, Larson Financial Group LLC bought a new stake in shares of Chemed in the third quarter valued at approximately $44,000. Institutional investors own 94.25% of the company’s stock.

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 two segments, VITAS and Roto-Rooter. 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.