Chemed Corporation (NYSE:CHE - Get Free Report)'s share price reached a new 52-week low on Tuesday . The company traded as low as $456.28 and last traded at $459.20, with a volume of 6980 shares changing hands. The stock had previously closed at $464.91.
Wall Street Analyst Weigh In
Several research analysts have commented on CHE shares. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Bank of America cut their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $640.00 target price (down from $674.00) on shares of Chemed in a research report on Monday, June 30th.
Get Our Latest Research Report on Chemed
Chemed Stock Up 0.5%
The firm's 50-day moving average is $540.00 and its 200-day moving average is $560.08. The company has a market capitalization of $6.67 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.24 and a beta of 0.50.
Chemed (NYSE:CHE - Get Free Report) last announced its earnings results 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 net margin of 12.40% and a return on equity of 27.58%. The company had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. During the same period in the previous year, the business earned $5.20 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Chemed Corporation will post 21.43 EPS for the current year.
Chemed Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.00 annualized dividend and a yield of 0.44%. Chemed's payout ratio is 9.74%.
Insider Activity
In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction dated 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 in the company, valued at $58,335,010.65. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the company'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 sale, the executive vice president owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,500 shares of company stock valued at $2,598,450. Company insiders own 3.29% of the company's stock.
Hedge Funds Weigh In On Chemed
Hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Chemed during the first quarter valued at about $29,000. HM Payson & Co. bought a new position in shares of Chemed during the first quarter valued at about $30,000. SVB Wealth LLC bought a new position in shares of Chemed during the first quarter valued at about $30,000. Whipplewood Advisors LLC raised its stake in Chemed by 54.5% in the first 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 Chemed in the first quarter worth about $32,000. 95.85% of the stock is owned by institutional investors.
Chemed Company Profile
(
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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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