Chemed (NYSE:CHE) Reaches New 12-Month Low - What's Next?

Chemed Co. (NYSE:CHE - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $522.38 and last traded at $524.24, with a volume of 40559 shares changing hands. The stock had previously closed at $524.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CHE shares. StockNews.com raised Chemed from a "hold" rating to a "buy" rating in a research note on Saturday, November 30th. Royal Bank of Canada lowered their target price on shares of Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

Chemed Stock Performance

The firm has a market capitalization of $7.80 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.32 and a beta of 0.46. The stock's 50 day simple moving average is $568.69 and its two-hundred day simple moving average is $564.69.

Chemed (NYSE:CHE - Get Free Report) last announced 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). The company had revenue of $606.18 million for the quarter, compared to analysts' expectations of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 EPS. Equities research analysts expect that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Monday, November 18th. Chemed's payout ratio is currently 10.11%.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the completion of the sale, the chief executive officer now owns 101,735 shares of the company's stock, valued at $58,270,755.95. This trade represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Walsh III sold 400 shares of the company's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the transaction, the director now directly owns 3,046 shares in the company, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,132 shares of company stock valued at $3,003,502 over the last ninety days. Company insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On Chemed

A number of institutional investors have recently made changes to their positions in CHE. Franklin Resources Inc. boosted its position in shares of Chemed by 21.3% during the 3rd quarter. Franklin Resources Inc. now owns 8,800 shares of the company's stock worth $5,282,000 after purchasing an additional 1,544 shares during the period. Second Line Capital LLC boosted its position in shares of Chemed by 17.1% during the third quarter. Second Line Capital LLC now owns 4,597 shares of the company's stock worth $2,763,000 after buying an additional 672 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 15,791 shares during the period. Vestcor Inc grew its stake in shares of Chemed by 35.4% in the third quarter. Vestcor Inc now owns 4,351 shares of the company's stock valued at $2,615,000 after buying an additional 1,138 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank raised its holdings in shares of Chemed by 2.6% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,439 shares of the company's stock valued at $3,870,000 after buying an additional 162 shares during the period. 95.85% of the stock is currently 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.