Chemed (NYSE:CHE) Lowered to Hold Rating by Wall Street Zen

Chemed (NYSE:CHE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other analysts have also recently commented on CHE. Bank of America reduced their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a report on Monday, June 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $640.00 target price (down from $674.00) on shares of Chemed in a report on Monday, June 30th.

Chemed Stock Up 0.3%

NYSE:CHE opened at $472.61 on Friday. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.28 and a beta of 0.50. Chemed has a 52 week low of $469.80 and a 52 week high of $623.61. The company's 50 day moving average price is $555.54 and its 200-day moving average price is $562.58.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.04. The firm had revenue of $646.94 million during 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%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.20 earnings per share. As a group, sell-side analysts anticipate that Chemed will post 21.43 earnings per share for the current year.

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $576.45, for a total value of $864,675.00. Following the completion of the sale, the chief executive officer directly owned 101,197 shares of the company's stock, valued at $58,335,010.65. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president directly owned 14,627 shares in the company, valued at $8,454,259.73. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,500 shares of company stock worth $2,598,450 over the last ninety days. Insiders own 3.29% of the company's stock.

Institutional Investors Weigh In On Chemed

Several institutional investors have recently added to or reduced their stakes in CHE. Voya Investment Management LLC raised its stake in shares of Chemed by 1.5% in the first quarter. Voya Investment Management LLC now owns 2,645 shares of the company's stock worth $1,628,000 after purchasing an additional 40 shares during the last quarter. Cim LLC raised its position in shares of Chemed by 1.0% during the 1st quarter. Cim LLC now owns 2,029 shares of the company's stock worth $1,248,000 after purchasing an additional 21 shares during the last quarter. Strs Ohio purchased a new position in shares of Chemed in the first quarter valued at approximately $1,681,000. Geneos Wealth Management Inc. boosted its stake in Chemed by 330.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 99 shares of the company's stock worth $61,000 after purchasing an additional 76 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in Chemed in the 1st quarter valued at about $616,000. Institutional investors and hedge funds own 95.85% of the company's stock.

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.

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