Chemed (NYSE:CHE) Lowered to "Hold" Rating by StockNews.com

Chemed (NYSE:CHE - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

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

Chemed Stock Performance

Shares of NYSE:CHE traded up $7.35 on Friday, hitting $570.63. 113,335 shares of the company's stock were exchanged, compared to its average volume of 86,127. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62. The company has a market capitalization of $8.59 billion, a PE ratio of 28.83, a P/E/G ratio of 2.24 and a beta of 0.46. The firm's 50-day moving average is $579.16 and its 200 day moving average is $565.16.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing analysts' consensus estimates of $5.76 by ($0.12). The company had revenue of $606.18 million for the quarter, compared to analyst estimates of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.32 EPS. On average, analysts anticipate that Chemed will post 22.26 EPS for the current fiscal year.

Insider Transactions at Chemed

In related news, EVP Nicholas Michael Westfall sold 1,713 shares of Chemed stock in a transaction 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 transaction, the executive vice president now directly owns 6,109 shares in the company, valued at $3,478,159.15. This trade represents a 21.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George J. Walsh III sold 400 shares of the firm's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total transaction of $238,988.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 4,113 shares of company stock worth $2,411,905. Company insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On Chemed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Second Line Capital LLC lifted its position in shares of Chemed by 17.1% during the 3rd quarter. Second Line Capital LLC now owns 4,597 shares of the company's stock valued at $2,763,000 after acquiring an additional 672 shares during the period. Geode Capital Management LLC raised its holdings in Chemed by 4.9% during the third quarter. Geode Capital Management LLC now owns 335,443 shares of the company's stock worth $201,820,000 after purchasing an additional 15,791 shares during the last quarter. Vestcor Inc boosted its position in Chemed by 35.4% during the third quarter. Vestcor Inc now owns 4,351 shares of the company's stock worth $2,615,000 after purchasing an additional 1,138 shares in the last quarter. Cape Cod Five Cents Savings Bank grew its holdings in Chemed by 2.6% in the third quarter. Cape Cod Five Cents Savings Bank now owns 6,439 shares of the company's stock valued at $3,870,000 after purchasing an additional 162 shares during the last quarter. Finally, MML Investors Services LLC increased its position in shares of Chemed by 3.9% in the third quarter. MML Investors Services LLC now owns 1,457 shares of the company's stock valued at $876,000 after buying an additional 55 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.