Chemed (NYSE:CHE) Reaches New 52-Week Low - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHE. Bank of America cut their price target on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $640.00 price objective (down previously from $674.00) on shares of Chemed 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 Stock Performance

The stock's 50-day moving average price is $532.94 and its 200-day moving average price is $558.76. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 2.17 and a beta of 0.50.

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, topping the consensus estimate of $5.59 by $0.04. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The firm had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same period in the previous year, the firm posted $5.20 EPS. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate 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 paid a $0.50 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.00 annualized dividend and a yield of 0.44%. Chemed's payout ratio is currently 9.74%.

Insider Activity at Chemed

In related news, 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 transaction 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 approximately $58,335,010.65. This represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock valued at $2,598,450 over the last ninety days. 3.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chemed

Institutional investors have recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in Chemed in the 1st quarter worth about $29,000. HM Payson & Co. bought a new position in shares of Chemed in the first quarter valued at approximately $30,000. SVB Wealth LLC bought a new position in shares of Chemed in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC boosted its holdings in shares of 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 acquiring an additional 18 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Chemed in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 95.85% of the company's stock.

About Chemed

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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