Chemed (NYSE:CHE) EVP Sells 1,000 Shares of Stock

Key Points

• Chemed EVP Spencer Lee sold 1,000 shares for about $547,610, reducing his direct stake by 7.18% to 12,931 shares.
• Chemed beat quarterly estimates, reporting EPS of $6.75 and revenue of $690.94 million; revenue grew 10.6% year over year.
• Analysts’ average rating was “Hold,” with an average price target of $603. The company also announced a quarterly dividend of $0.70 per share.

Chemed Corporation (NYSE:CHE - Get Free Report) EVP Spencer Lee sold 1,000 shares of Chemed stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $547.61, for a total value of $547,610.00. Following the completion of the transaction, the executive vice president directly owned 12,931 shares of the company's stock, valued at $7,081,144.91. This represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chemed Price Performance

NYSE:CHE traded down $1.40 during mid-day trading on Friday, reaching $548.80. 18,182 shares of the company were exchanged, compared to its average volume of 199,251. Chemed Corporation has a 12 month low of $365.20 and a 12 month high of $562.24. The company has a fifty day moving average of $516.47 and a 200 day moving average of $467.03. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.15 billion, a PE ratio of 26.24, a PEG ratio of 2.09 and a beta of 0.50.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $6.75 earnings per share for the quarter, topping analysts' consensus estimates of $6.44 by $0.31. Chemed had a net margin of 10.61% and a return on equity of 35.18%. The company had revenue of $690.94 million during the quarter, compared to the consensus estimate of $685.04 million. During the same period in the previous year, the firm posted $5.27 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Chemed Corporation will post 24.05 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Monday, November 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, November 16th. Chemed's dividend payout ratio (DPR) is 13.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group upped their price target on Chemed from $650.00 to $675.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Wall Street Zen upgraded Chemed from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. Bank of America reissued a "neutral" rating on shares of Chemed in a report on Wednesday, July 29th. Jefferies Financial Group upgraded shares of Chemed from a "hold" rating to a "buy" rating and upped their target price for the company from $520.00 to $620.00 in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada raised their target price on shares of Chemed from $548.00 to $585.00 and gave the company a "sector perform" rating in a research note on Thursday, October 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $603.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHE. Richardson Financial Services Inc. grew its stake in shares of Chemed by 5,700.0% during the third quarter. Richardson Financial Services Inc. now owns 58 shares of the company's stock worth $29,000 after purchasing an additional 57 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Chemed during the second quarter worth about $34,000. Versant Capital Management Inc boosted its holdings in Chemed by 7,500.0% during the second quarter. Versant Capital Management Inc now owns 76 shares of the company's stock worth $35,000 after buying an additional 75 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in Chemed during the second quarter worth about $36,000. Finally, Fulcrum Asset Management LLP grew its position in shares of Chemed by 121.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 71 shares of the company's stock worth $36,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Company Profile

Chemed Corporation is a U.S.-based company operating through two principal businesses: VITAS Healthcare, which provides hospice and palliative care, and Roto-Rooter, which offers plumbing, drain-cleaning and water-restoration services. VITAS serves patients with serious illnesses through home-based care and services in hospice facilities and other care settings. Roto-Rooter serves residential and commercial customers with plumbing and drain services, as well as cleanup and restoration following water damage.

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