Chemed (NYSE:CHE) Trading Up 7.1% - Here's Why

Shares of Chemed Co. (NYSE:CHE - Get Free Report) shot up 7.1% during mid-day trading on Thursday . The company traded as high as $595.92 and last traded at $584.61. 131,939 shares were traded during trading, an increase of 42% from the average session volume of 92,597 shares. The stock had previously closed at $545.79.

Analyst Ratings Changes

A number of brokerages have issued reports on CHE. Royal Bank of Canada decreased their price objective on Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. StockNews.com downgraded Chemed from a "buy" rating to a "hold" rating in a research report on Thursday.

Chemed Price Performance

The business has a 50-day simple moving average of $546.69 and a 200-day simple moving average of $563.35. The firm has a market capitalization of $8.86 billion, a PE ratio of 29.76, a P/E/G ratio of 2.15 and a beta of 0.48.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Chemed's dividend payout ratio is 10.05%.

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Insider Activity

In other Chemed news, VP Brian C. Judkins bought 145 shares of the business's stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $519.50 per share, with a total value of $75,327.50. Following the completion of the purchase, the vice president now owns 1,678 shares in the company, valued at $871,721. This represents a 9.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its stake in shares of Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company's stock valued at $28,000 after buying an additional 39 shares during the last quarter. Atala Financial Inc bought a new position in shares of Chemed during the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Chemed by 64.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock valued at $30,000 after buying an additional 22 shares during the last quarter. Trust Co. of Vermont bought a new position in Chemed in the fourth quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC grew its stake in Chemed by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock worth $41,000 after purchasing an additional 34 shares in the last quarter. Institutional investors 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.