Chemed (NYSE:CHE) Sets New 52-Week Low - What's Next?

Chemed Corporation (NYSE:CHE - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $468.30 and last traded at $472.44, with a volume of 6237 shares. The stock had previously closed at $473.18.

Analyst Ratings Changes

CHE has been the topic of several recent research reports. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America reduced their price target on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $640.00 price target (down previously from $674.00) on shares of Chemed in a report on Monday, June 30th.

Chemed Trading Down 2.5%

The firm has a market cap of $6.75 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. The firm has a fifty day moving average price of $555.54 and a 200 day moving average price of $563.17.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.04. The firm had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. Chemed had a net margin of 12.40% and a return on equity of 27.58%. Chemed's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.20 EPS. As a group, equities analysts predict that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, May 29th. Chemed's dividend payout ratio is currently 9.74%.

Insider Activity

In related news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the sale, the executive vice president directly owned 14,627 shares in the company, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the sale, the chief executive officer owned 101,197 shares in the company, valued at $58,335,010.65. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,500 shares of company stock valued at $2,598,450. 3.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Chemed

A number of large investors have recently made changes to their positions in CHE. Alpine Bank Wealth Management acquired a new position in Chemed in the first quarter valued at approximately $29,000. HM Payson & Co. acquired a new position in Chemed in the first quarter valued at approximately $30,000. SVB Wealth LLC acquired a new position in Chemed in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC boosted its holdings in Chemed by 54.5% in the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Chemed in the first quarter valued at approximately $32,000. 95.85% of the stock is currently 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.