Chemed (NYSE:CHE) Sets New 12-Month Low – Here’s What Happened

Chemed Co. (NYSE:CHE) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $512.12 and last traded at $517.44, with a volume of 124631 shares trading hands. The stock had previously closed at $523.16.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

Chemed Price Performance

The business’s 50-day moving average is $561.08 and its two-hundred day moving average is $563.73. The firm has a market cap of $7.82 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.32 and a beta of 0.46.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company had revenue of $606.18 million during the quarter, compared to the consensus estimate of $612.22 million. During the same quarter in the previous year, the business earned $5.32 EPS. Chemed’s revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, November 18th. Chemed’s payout ratio is presently 10.11%.

Insider Buying and Selling

In other news, EVP Spencer S. Lee sold 732 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total value of $421,353.84. Following the completion of the sale, the executive vice president now directly owns 18,287 shares of the company’s stock, valued at $10,526,362.94. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $572.77, for a total value of $1,145,540.00. Following the transaction, the chief executive officer now directly owns 101,735 shares in the company, valued at $58,270,755.95. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chemed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHE. American National Bank & Trust bought a new stake in shares of Chemed during the 3rd quarter worth about $61,000. GAMMA Investing LLC boosted its holdings in shares of Chemed by 60.5% during the third quarter. GAMMA Investing LLC now owns 138 shares of the company’s stock worth $83,000 after acquiring an additional 52 shares during the period. Quarry LP boosted its holdings in shares of Chemed by 721.7% during the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after acquiring an additional 166 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Chemed in the third quarter valued at approximately $201,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Chemed by 2,314.3% during the third quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock worth $203,000 after purchasing an additional 324 shares during the period. 95.85% of the stock is owned by institutional investors.

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.