Chemed Co. (NYSE:CHE) has been given an average rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $290.67.
CHE has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $339.00 target price on the stock in a report on Tuesday, April 24th. ValuEngine raised shares of Chemed from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $258.00 target price on shares of Chemed in a report on Friday, February 16th. Finally, Oppenheimer raised their target price on shares of Chemed from $270.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, February 16th.
Shares of Chemed opened at $323.68 on Friday, Marketbeat Ratings reports. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Chemed has a one year low of $186.09 and a one year high of $335.99. The stock has a market cap of $5.11 billion, a PE ratio of 60.39, a P/E/G ratio of 2.93 and a beta of 1.10.
Chemed (NYSE:CHE) last issued its earnings results on Thursday, April 19th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.36. Chemed had a net margin of 6.67% and a return on equity of 33.05%. The firm had revenue of $439.18 million for the quarter, compared to analysts’ expectations of $419.33 million. During the same quarter last year, the company posted $1.82 earnings per share. Chemed’s revenue was up 8.2% on a year-over-year basis. analysts anticipate that Chemed will post 10.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Thursday, May 31st will be issued a $0.28 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.35%. Chemed’s dividend payout ratio is currently 20.90%.
Chemed declared that its Board of Directors has initiated a share buyback program on Tuesday, March 6th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Kevin J. Mcnamara sold 22,000 shares of Chemed stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $299.69, for a total transaction of $6,593,180.00. Following the sale, the insider now owns 185,375 shares of the company’s stock, valued at $55,555,033.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Spencer S. Lee sold 1,428 shares of Chemed stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $299.90, for a total value of $428,257.20. Following the sale, the executive vice president now directly owns 33,674 shares in the company, valued at approximately $10,098,832.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,011 shares of company stock worth $23,921,474. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Trail Advisors LLC raised its holdings in shares of Chemed by 28,358.4% during the first quarter. Summit Trail Advisors LLC now owns 156,521 shares of the company’s stock valued at $157,000 after buying an additional 155,971 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Chemed during the fourth quarter valued at approximately $205,000. D.A. Davidson & CO. bought a new stake in shares of Chemed during the fourth quarter valued at approximately $209,000. Zeke Capital Advisors LLC bought a new stake in shares of Chemed during the first quarter valued at approximately $218,000. Finally, Grimes & Company Inc. bought a new stake in shares of Chemed during the first quarter valued at approximately $218,000. 96.34% of the stock is currently owned by institutional investors.
Chemed Company Profile
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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