Chemed (NYSE:CHE) Rating Lowered to “Hold” at StockNews.com

Chemed (NYSE:CHE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

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

Chemed Stock Up 1.4 %

Shares of Chemed stock opened at $570.96 on Friday. The company’s fifty day simple moving average is $579.08 and its two-hundred day simple moving average is $565.16. Chemed has a 12-month low of $523.33 and a 12-month high of $654.62. The firm has a market cap of $8.59 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46.

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

Insider Buying and Selling at Chemed

In related news, Director George J. Walsh III sold 400 shares of Chemed 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 completion of the transaction, the director now directly owns 3,046 shares of the company’s stock, valued at $1,819,893.62. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the sale, the chief executive officer now directly owns 103,735 shares in the company, valued at $62,117,555.35. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,113 shares of company stock valued at $2,411,905. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chemed

A number of institutional investors and hedge funds have recently made changes to their positions in CHE. Thrivent Financial for Lutherans grew its stake in shares of Chemed by 300.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 116,572 shares of the company’s stock worth $63,249,000 after buying an additional 87,449 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Chemed in the third quarter worth $437,150,000. Impax Asset Management Group plc grew its stake in shares of Chemed by 19.5% in the second quarter. Impax Asset Management Group plc now owns 317,943 shares of the company’s stock worth $172,510,000 after acquiring an additional 51,974 shares during the last quarter. FMR LLC increased its holdings in shares of Chemed by 23.8% during the third quarter. FMR LLC now owns 238,616 shares of the company’s stock valued at $143,401,000 after acquiring an additional 45,917 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of Chemed by 22.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company’s stock worth $121,068,000 after purchasing an additional 40,358 shares during the last quarter. 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.