Chemed (NYSE:CHE) Rating Increased to Buy at StockNews.com

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

Other equities analysts also recently issued reports about the company. Oppenheimer increased 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 lifted their target price on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th.

Chemed Trading Up 0.4 %

CHE opened at $561.65 on Friday. The company has a market cap of $8.50 billion, a P/E ratio of 30.23, a PEG ratio of 2.29 and a beta of 0.46. The company’s 50 day moving average is $620.66 and its 200-day moving average is $593.70. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share 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 analyst estimates of $587.18 million. Chemed had a net margin of 12.36% and a return on equity of 30.52%. On average, equities analysts forecast that Chemed will post 21.72 EPS for the current year.

Insider Transactions at Chemed

In related news, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the sale, the chief financial officer now directly owns 2,882 shares in the company, valued at $1,853,529.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the 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 completion of the sale, 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 SEC, which is accessible through this hyperlink. Also, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $643.14, for a total value of $1,704,321.00. Following the completion of the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock worth $10,184,531 over the last ninety days. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemed

Large investors have recently added to or reduced their stakes in the business. Chicago Capital LLC acquired a new stake in shares of Chemed during the 4th quarter worth approximately $1,170,000. Raymond James & Associates grew its holdings in Chemed by 5.7% in the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock worth $39,715,000 after purchasing an additional 3,654 shares during the period. Ontario Teachers Pension Plan Board increased its stake in Chemed by 229.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock valued at $3,110,000 after purchasing an additional 4,166 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Chemed during the fourth quarter valued at about $2,325,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Chemed by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock worth $50,585,000 after purchasing an additional 1,283 shares in the last quarter. 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.