Chemed (NYSE:CHE) Sees Strong Trading Volume - Still a Buy?

Shares of Chemed Corporation (NYSE:CHE - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 195,210 shares were traded during mid-day trading, an increase of 83% from the previous session's volume of 106,714 shares.The stock last traded at $558.05 and had previously closed at $555.88.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHE. Royal Bank Of Canada raised their price target on shares of Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wall Street Zen raised shares of Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Chemed Trading Up 0.7%

The stock has a 50-day moving average price of $564.94 and a two-hundred day moving average price of $564.75. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.30 and a beta of 0.54.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share 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 business had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter last year, the company earned $5.20 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a $0.50 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Chemed's dividend payout ratio is currently 9.74%.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $615.33, for a total value of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares of the company's stock, valued at $62,566,139.07. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the firm'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 transaction, the executive vice president now directly owns 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock valued at $3,213,780 over the last ninety days. 3.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chemed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC grew its holdings in Chemed by 1.5% during the first quarter. Voya Investment Management LLC now owns 2,645 shares of the company's stock worth $1,628,000 after acquiring an additional 40 shares during the period. Cim LLC grew its stake 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 period. Strs Ohio acquired a new stake in shares of Chemed during the 1st quarter worth approximately $1,681,000. Geneos Wealth Management Inc. increased its holdings in shares of Chemed by 330.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 99 shares of the company's stock valued at $61,000 after purchasing an additional 76 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Chemed in the 1st quarter valued at $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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