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

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

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $640.00 price target (down from $674.00) on shares of Chemed in a report on Monday, June 30th. Bank of America decreased their target price on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th.

Chemed Trading Up 1.2%

Shares of CHE traded up $5.62 during mid-day trading on Friday, reaching $466.32. The company's stock had a trading volume of 200,175 shares, compared to its average volume of 111,676. Chemed has a 1-year low of $457.53 and a 1-year high of $623.61. The business has a 50-day simple moving average of $551.27 and a two-hundred day simple moving average of $562.07. The stock has a market cap of $6.82 billion, a P/E ratio of 22.71, a PEG ratio of 2.22 and a beta of 0.50.

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

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed 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 owned 101,197 shares in the company, valued at $58,335,010.65. The trade was a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares in the company, valued at approximately $8,454,259.73. The trade was 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 90 days. 3.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chemed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHE. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Chemed by 2.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 597,175 shares of the company's stock worth $367,454,000 after purchasing an additional 15,041 shares during the period. Neuberger Berman Group LLC grew its stake in Chemed by 3.9% during the first quarter. Neuberger Berman Group LLC now owns 521,212 shares of the company's stock worth $320,712,000 after buying an additional 19,650 shares in the last quarter. Geode Capital Management LLC increased its holdings in Chemed by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company's stock valued at $180,654,000 after buying an additional 4,966 shares during the period. FMR LLC raised its position in shares of Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock valued at $150,352,000 after buying an additional 45,174 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Chemed by 8.2% during the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company's stock worth $141,343,000 after acquiring an additional 20,310 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

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.