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

Chemed (NYSE:CHE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Royal Bank of Canada lowered their price objective on shares of Chemed from $697.00 to $633.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th.

Chemed Stock Performance

CHE stock traded up $1.08 on Friday, hitting $572.39. 45,670 shares of the company's stock were exchanged, compared to its average volume of 85,970. The firm has a 50 day moving average price of $578.27 and a two-hundred day moving average price of $565.09. Chemed has a 12-month low of $523.33 and a 12-month high of $654.62. The stock has a market cap of $8.61 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results 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 business 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%. Chemed's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.32 EPS. Sell-side analysts expect that Chemed will post 21.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the completion of the transaction, the chief executive officer now directly owns 103,735 shares in the company, valued at approximately $62,117,555.35. This trade represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 6,109 shares of the company's stock, valued at $3,478,159.15. The trade was a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,845 shares of company stock worth $3,978,798. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chemed

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Chemed by 300.3% in the second quarter. Thrivent Financial for Lutherans now owns 116,572 shares of the company's stock valued at $63,249,000 after buying an additional 87,449 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Chemed in the 3rd quarter worth $437,150,000. Impax Asset Management Group plc raised its position in Chemed by 19.5% during the second quarter. Impax Asset Management Group plc now owns 317,943 shares of the company's stock worth $172,510,000 after acquiring an additional 51,974 shares during the period. FMR LLC lifted its holdings in Chemed by 23.8% during the third quarter. FMR LLC now owns 238,616 shares of the company's stock valued at $143,401,000 after purchasing an additional 45,917 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in shares of Chemed by 22.1% in the second quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company's stock valued at $121,068,000 after purchasing an additional 40,358 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

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.