Chemed (NYSE:CHE) Shares Down 7.2% After Earnings Miss

Chemed Co. (NYSE:CHE - Get Free Report)'s share price fell 7.2% during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $561.00 and last traded at $573.47. 71,152 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 77,294 shares. The stock had previously closed at $617.95.

The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.09 by ($0.41). The company had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 32.29% and a net margin of 12.03%.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, February 23rd. Chemed's dividend payout ratio (DPR) is currently 8.93%.

Analyst Ratings Changes

CHE has been the subject of several recent research reports. Royal Bank of Canada upped their price target on shares of Chemed from $604.00 to $712.00 and gave the company an "outperform" rating in a research report on Monday, March 4th. Oppenheimer upped their price target on shares of Chemed from $625.00 to $650.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th.

Insider Transactions at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the sale, the vice president now directly owns 1,422 shares in the company, valued at $917,190. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares of the company's stock, valued at $13,320,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the sale, the vice president now owns 1,422 shares of the company's stock, valued at approximately $917,190. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock worth $10,184,531 over the last three months. 3.32% of the stock is owned by company insiders.

Institutional Trading of Chemed

Several institutional investors and hedge funds have recently made changes to their positions in CHE. SG Americas Securities LLC increased its holdings in Chemed by 32.8% during the third quarter. SG Americas Securities LLC now owns 3,290 shares of the company's stock worth $1,710,000 after buying an additional 813 shares during the last quarter. Golden State Equity Partners increased its stake in shares of Chemed by 29.4% in the third quarter. Golden State Equity Partners now owns 673 shares of the company's stock worth $350,000 after purchasing an additional 153 shares in the last quarter. Trinity Street Asset Management LLP increased its stake in shares of Chemed by 3.0% in the third quarter. Trinity Street Asset Management LLP now owns 29,861 shares of the company's stock worth $15,519,000 after purchasing an additional 863 shares in the last quarter. Xponance Inc. increased its stake in shares of Chemed by 1.8% in the third quarter. Xponance Inc. now owns 2,974 shares of the company's stock worth $1,546,000 after purchasing an additional 54 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Chemed by 2.7% in the third quarter. Raymond James & Associates now owns 64,264 shares of the company's stock valued at $33,398,000 after acquiring an additional 1,669 shares during the period. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Stock Down 7.2 %

The business's 50-day moving average price is $624.00 and its 200 day moving average price is $590.66. The company has a market capitalization of $8.67 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.

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.