Chemed (NYSE:CHE) Research Coverage Started at StockNews.com

Posted by Doug Wharley on Mar 19th, 2023

StockNews.com started coverage on shares of Chemed (NYSE:CHE – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the stock.

Separately, Royal Bank of Canada upped their price target on shares of Chemed from $545.00 to $587.00 and gave the company an outperform rating in a report on Monday, February 27th.

Chemed Trading Down 0.8 %

CHE opened at $514.70 on Thursday. The stock has a market capitalization of $7.69 billion, a PE ratio of 31.14, a P/E/G ratio of 2.81 and a beta of 0.52. The firm’s fifty day moving average price is $507.07 and its 200 day moving average price is $491.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.88. Chemed has a 12-month low of $430.16 and a 12-month high of $539.13.

Chemed (NYSE:CHE – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The company reported $5.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.09. The firm had revenue of $546.65 million for the quarter, compared to analysts’ expectations of $546.60 million. Chemed had a net margin of 11.69% and a return on equity of 41.54%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.25 earnings per share. As a group, research analysts expect that Chemed will post 20.85 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Monday, February 27th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.30%. Chemed’s dividend payout ratio (DPR) is 9.20%.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $507.32, for a total transaction of $1,014,640.00. Following the sale, the chief executive officer now directly owns 121,613 shares of the company’s stock, valued at $61,696,707.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.03% of the stock is owned by corporate insiders.

Institutional Trading of Chemed

Institutional investors and hedge funds have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Chemed during the fourth quarter worth $26,000. Dark Forest Capital Management LP acquired a new stake in shares of Chemed during the second quarter worth $34,000. IFP Advisors Inc raised its holdings in shares of Chemed by 13.7% during the third quarter. IFP Advisors Inc now owns 274 shares of the company’s stock worth $37,000 after purchasing an additional 33 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Chemed during the first quarter worth $46,000. Finally, Quadrant Capital Group LLC grew its position in shares of Chemed by 29.2% during the third quarter. Quadrant Capital Group LLC now owns 115 shares of the company’s stock worth $50,000 after acquiring an additional 26 shares during the last quarter. 91.12% of the stock is owned by institutional investors and hedge funds.

About Chemed

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Chemed Corp. engages in the provision of healthcare and maintenance services. It operates through the VITAS and Roto-Rooter segments. The VITAS segment offers hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.