StockNews.com Upgrades Chemed (NYSE:CHE) to Buy

Chemed (NYSE:CHE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

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

Chemed Price Performance

Shares of NYSE CHE opened at $573.11 on Friday. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.42 and a beta of 0.46. Chemed has a 12 month low of $523.33 and a 12 month high of $654.62. The firm’s 50 day simple moving average is $578.45 and its 200-day simple moving average is $565.06.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm had revenue of $606.18 million for the quarter, compared to analyst estimates of $612.22 million. During the same period in the previous year, the business earned $5.32 EPS. Chemed’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Chemed will post 21.43 earnings per share for the current fiscal year.

Insider Activity

In other Chemed news, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at approximately $3,478,159.15. This trade represents a 21.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 732 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total value of $421,353.84. Following the completion of the transaction, the executive vice president now owns 18,287 shares in the company, valued at $10,526,362.94. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,845 shares of company stock worth $3,978,798 in the last quarter. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHE. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Chemed by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock worth $314,868,000 after acquiring an additional 14,651 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Chemed by 2.7% during the 2nd quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock worth $257,927,000 after acquiring an additional 12,705 shares during the period. State Street Corp raised its holdings in shares of Chemed by 0.8% during the 3rd quarter. State Street Corp now owns 464,354 shares of the company’s stock worth $279,063,000 after acquiring an additional 3,564 shares during the period. Geode Capital Management LLC raised its holdings in shares of Chemed by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock worth $201,820,000 after acquiring an additional 15,791 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Chemed by 4.7% during the 3rd quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock worth $199,977,000 after acquiring an additional 14,814 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Company Profile

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.