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 note issued to investors on Saturday.

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

Chemed Price Performance

Shares of Chemed stock opened at $572.39 on Friday. Chemed has a 12 month low of $523.33 and a 12 month high of $654.62. The stock has a market capitalization of $8.61 billion, a P/E ratio of 28.92, a PEG ratio of 2.43 and a beta of 0.46. The business has a 50 day simple moving average of $578.27 and a two-hundred day simple moving average of $565.05.

Chemed (NYSE:CHE) last released 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 net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. During the same quarter in the prior year, the company posted $5.32 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that Chemed will post 21.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now directly owns 103,735 shares of the company’s stock, valued at $62,117,555.35. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the completion of the transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at $3,478,159.15. This trade represents a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,845 shares of company stock valued at $3,978,798 in the last three months. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chemed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHE. GAMMA Investing LLC raised its stake in Chemed by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock valued at $47,000 after acquiring an additional 22 shares during the last quarter. EP Wealth Advisors LLC grew its position in Chemed by 1.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock valued at $814,000 after buying an additional 25 shares during the last quarter. Ballentine Partners LLC grew its position in Chemed by 4.1% in the 3rd quarter. Ballentine Partners LLC now owns 655 shares of the company’s stock valued at $394,000 after buying an additional 26 shares during the last quarter. Everpar Advisors LLC grew its position in Chemed by 4.9% in the 2nd quarter. Everpar Advisors LLC now owns 580 shares of the company’s stock valued at $315,000 after buying an additional 27 shares during the last quarter. Finally, Creative Planning grew its position in Chemed by 2.8% in the 2nd quarter. Creative Planning now owns 1,228 shares of the company’s stock valued at $667,000 after buying an additional 34 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

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.