Chemed (NYSE:CHE) Upgraded to Buy by StockNews.com

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

A number of other equities research analysts have also weighed in on the company. Oppenheimer lifted their target price on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their price target on Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a research note on Monday, March 4th.

Chemed Stock Performance

Shares of NYSE CHE opened at $561.65 on Friday. The business’s 50 day moving average price is $620.66 and its 200-day moving average price is $593.70. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 2.29 and a beta of 0.46. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). The company had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. Sell-side analysts predict that Chemed will post 21.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock worth $10,184,531 over the last 90 days. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Chemed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Xponance Inc. raised its stake in Chemed by 1.8% in the third quarter. Xponance Inc. now owns 2,974 shares of the company’s stock valued at $1,546,000 after buying an additional 54 shares during the last quarter. Raymond James & Associates boosted its stake in Chemed by 2.7% in the 3rd quarter. Raymond James & Associates now owns 64,264 shares of the company’s stock worth $33,398,000 after purchasing an additional 1,669 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Chemed by 21.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,425 shares of the company’s stock worth $1,260,000 after purchasing an additional 422 shares during the last quarter. Invesco LLC raised its holdings in shares of Chemed by 33.9% in the third quarter. Invesco LLC now owns 667 shares of the company’s stock worth $347,000 after buying an additional 169 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Chemed by 3.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 2,072 shares of the company’s stock worth $1,077,000 after buying an additional 61 shares during the period. 95.85% of the stock is owned by hedge funds and other 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.