Chemed (NYSE:CHE) Cut to "Hold" at StockNews.com

StockNews.com cut shares of Chemed (NYSE:CHE - Free Report) from a buy rating to a hold rating in a research report released on Thursday morning.

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

Chemed Stock Performance

Chemed stock traded down $11.87 during trading on Thursday, reaching $588.93. 178,604 shares of the company's stock were exchanged, compared to its average volume of 98,255. Chemed has a 52-week low of $512.12 and a 52-week high of $654.62. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.15 and a beta of 0.48. The company's 50-day moving average is $546.69 and its two-hundred day moving average is $563.35.

Chemed Announces Dividend

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

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Insiders Place Their Bets

In other Chemed news, VP Brian C. Judkins bought 145 shares of the company's stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares in the company, valued at $871,721. The trade was a 9.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chemed

Hedge funds have recently bought and sold shares of the business. Creative Planning grew its position in shares of Chemed by 57.3% during the third quarter. Creative Planning now owns 1,932 shares of the company's stock worth $1,161,000 after buying an additional 704 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Chemed during the 3rd quarter valued at $2,301,000. Wealth Enhancement Advisory Services LLC grew its holdings in Chemed by 6.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,175 shares of the company's stock worth $706,000 after acquiring an additional 75 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Chemed by 4.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 887 shares of the company's stock worth $533,000 after purchasing an additional 38 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Chemed by 2,314.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company's stock valued at $203,000 after purchasing an additional 324 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.