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

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

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

Chemed Stock Performance

CHE stock opened at $573.11 on Friday. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.42 and a beta of 0.46. The firm has a 50-day simple moving average of $578.45 and a two-hundred day simple moving average of $565.06. Chemed has a one year low of $523.33 and a one year high of $654.62.

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

Insider Activity

In other news, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total transaction of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at $3,478,159.15. This represents a 21.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George J. Walsh III sold 400 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $597.47, for a total transaction of $238,988.00. Following the transaction, the director now owns 3,046 shares in the company, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,845 shares of company stock worth $3,978,798 over the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chemed

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after buying an additional 22 shares during the period. EP Wealth Advisors LLC increased its holdings in Chemed by 1.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock worth $814,000 after buying an additional 25 shares during the period. Ballentine Partners LLC increased its holdings in Chemed by 4.1% in the 3rd quarter. Ballentine Partners LLC now owns 655 shares of the company’s stock worth $394,000 after buying an additional 26 shares during the period. Everpar Advisors LLC increased its holdings in Chemed by 4.9% in the 2nd quarter. Everpar Advisors LLC now owns 580 shares of the company’s stock worth $315,000 after buying an additional 27 shares during the period. Finally, Creative Planning increased its holdings in Chemed by 2.8% in the 2nd quarter. Creative Planning now owns 1,228 shares of the company’s stock worth $667,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 95.85% 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 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.