Chemed (NYSE:CHE) Hits New 12-Month Low on Analyst Downgrade

Chemed Corporation (NYSE:CHE - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday after Royal Bank Of Canada lowered their price target on the stock from $674.00 to $640.00. Royal Bank Of Canada currently has an outperform rating on the stock. Chemed traded as low as $489.70 and last traded at $494.20, with a volume of 36763 shares. The stock had previously closed at $559.36.

Several other research analysts have also recently issued reports on CHE. Wall Street Zen raised Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th. 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 report on Monday.

Insider Activity at Chemed

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 101,197 shares in the company, valued at approximately $58,335,010.65. This represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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. Over the last three months, insiders sold 4,500 shares of company stock worth $2,598,450. 3.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in shares of Chemed in the first quarter valued at about $29,000. HM Payson & Co. acquired a new stake in Chemed in the 1st quarter valued at approximately $30,000. SVB Wealth LLC bought a new position in Chemed in the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC lifted its holdings in shares of Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Chemed in the first quarter valued at approximately $32,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Chemed Price Performance

The firm's 50 day moving average price is $562.94 and its 200-day moving average price is $564.60. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.32 and a beta of 0.54.

Chemed (NYSE:CHE - Get Free Report) last posted 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 net margin of 12.40% and a return on equity of 27.58%. The company had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the previous year, the firm posted $5.20 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's dividend payout ratio is presently 9.74%.

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.