Chemed (NYSE:CHE) Reaches New 12-Month Low - Here's What Happened

Chemed Corporation (NYSE:CHE - Get Free Report)'s stock price reached a new 52-week low on Monday . The stock traded as low as $449.01 and last traded at $450.09, with a volume of 91785 shares changing hands. The stock had previously closed at $451.30.

Analysts Set New Price Targets

Several analysts recently weighed in on CHE shares. Royal Bank Of Canada restated 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. Bank of America decreased 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, Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Chemed Trading Down 0.5%

The company has a 50-day simple moving average of $524.68 and a 200 day simple moving average of $556.39. The company has a market cap of $6.78 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.24 and a beta of 0.50.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating the consensus estimate of $5.59 by $0.04. The company had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. Chemed's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.20 EPS. On average, equities analysts forecast that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is presently 9.74%.

Insider Buying and Selling at Chemed

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

Hedge Funds Weigh In On Chemed

A number of hedge funds and other institutional investors have recently made changes to their positions in CHE. Alpine Bank Wealth Management bought a new position in shares of Chemed during the 1st quarter worth $29,000. HM Payson & Co. bought a new position in shares of Chemed during the 1st quarter worth $30,000. SVB Wealth LLC bought a new position in shares of Chemed during the 1st quarter worth $30,000. Whipplewood Advisors LLC grew its position in shares of Chemed by 54.5% during the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 18 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Chemed during the 1st quarter worth $32,000. Institutional investors 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.