Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for Chemed Corp. (CHE)
Chemed Corp. (NYSE:CHE)‘s stock had its “outperform” rating reissued by Oppenheimer Holdings Inc. in a research note issued on Tuesday. They currently have a $155.00 price objective on the stock. Oppenheimer Holdings Inc.’s target price would suggest a potential upside of 8.64% from the stock’s current price.
A number of other research firms have also weighed in on CHE. Zacks Investment Research lowered Chemed Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Royal Bank Of Canada raised their target price on Chemed Corp. from $136.00 to $162.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th. RBC Capital Markets restated a “sector perform” rating and issued a $162.00 target price (up previously from $136.00) on shares of Chemed Corp. in a report on Wednesday, July 27th. Finally, JMP Securities restated a “hold” rating on shares of Chemed Corp. in a report on Sunday, September 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Chemed Corp. presently has an average rating of “Hold” and a consensus price target of $161.50.
Chemed Corp. (NYSE:CHE) opened at 142.67 on Tuesday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 22.63 and a beta of 1.14. Chemed Corp. has a 1-year low of $124.77 and a 1-year high of $160.12. The firm’s 50-day moving average price is $136.91 and its 200 day moving average price is $135.71.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.08. The business had revenue of $290 million for the quarter, compared to analyst estimates of $393.50 million. Chemed Corp. had a return on equity of 24.12% and a net margin of 6.93%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 earnings per share. On average, analysts predict that Chemed Corp. will post $7.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.73%. This is an increase from Chemed Corp.’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, August 11th. Chemed Corp.’s dividend payout ratio (DPR) is presently 16.51%.
In related news, VP Arthur V. Tucker, Jr. sold 3,089 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $143.88, for a total transaction of $444,445.32. Following the completion of the sale, the vice president now directly owns 3,234 shares of the company’s stock, valued at $465,307.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Spencer S. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $141.67, for a total value of $283,340.00. Following the sale, the insider now directly owns 39,867 shares of the company’s stock, valued at $5,647,957.89. The disclosure for this sale can be found here. Corporate insiders own 5.32% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Chemed Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 431,220 shares of the company’s stock worth $58,409,000 after buying an additional 1,831 shares during the last quarter. BlackRock Inc. increased its stake in Chemed Corp. by 90.4% in the first quarter. BlackRock Inc. now owns 1,152 shares of the company’s stock worth $156,000 after buying an additional 547 shares in the last quarter. Commonwealth Equity Services Inc purchased a new stake in Chemed Corp. during the second quarter worth about $906,000. M&T Bank Corp increased its stake in Chemed Corp. by 2.2% in the first quarter. M&T Bank Corp now owns 3,052 shares of the company’s stock worth $413,000 after buying an additional 65 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Chemed Corp. by 7.2% in the first quarter. BlackRock Group LTD now owns 22,610 shares of the company’s stock worth $3,062,000 after buying an additional 1,514 shares in the last quarter. 98.62% of the stock is owned by institutional investors.
About Chemed Corp.
Chemed Corporation operates and divests subsidiaries engaged in diverse business activities. The Company operates its business in two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS segment provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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