Chemed Co. (NYSE:CHE) has received a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $315.33.
CHE has been the topic of several recent research reports. ValuEngine raised shares of Chemed from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $339.00 price objective on the stock in a report on Tuesday, April 24th. Finally, Royal Bank of Canada upped their price objective on shares of Chemed to $321.00 and gave the company a “market perform” rating in a report on Monday, July 30th.
Shares of CHE stock traded down $0.84 during trading hours on Friday, hitting $315.64. The company’s stock had a trading volume of 83,229 shares, compared to its average volume of 133,917. The company has a market capitalization of $5.10 billion, a P/E ratio of 30.40, a price-to-earnings-growth ratio of 2.87 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.04 and a quick ratio of 1.01. Chemed has a 12-month low of $186.09 and a 12-month high of $335.99.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Monday, August 13th will be paid a $0.30 dividend. This is a boost from Chemed’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Friday, August 10th. Chemed’s payout ratio is currently 20.90%.
In related news, insider Spencer S. Lee sold 1,440 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $332.22, for a total value of $478,396.80. Following the completion of the transaction, the insider now directly owns 32,234 shares in the company, valued at approximately $10,708,779.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kevin J. Mcnamara sold 19,000 shares of the business’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $322.27, for a total transaction of $6,123,130.00. Following the completion of the transaction, the insider now owns 124,491 shares of the company’s stock, valued at $40,119,714.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,890 shares of company stock valued at $6,747,893. Company insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Chemed by 175.3% in the 1st quarter. JPMorgan Chase & Co. now owns 205,300 shares of the company’s stock valued at $56,018,000 after purchasing an additional 130,719 shares during the period. Clinton Group Inc. acquired a new position in shares of Chemed in the 2nd quarter valued at $3,480,000. Cabot Wealth Management Inc. lifted its stake in shares of Chemed by 0.9% in the 1st quarter. Cabot Wealth Management Inc. now owns 18,216 shares of the company’s stock valued at $4,970,000 after purchasing an additional 160 shares during the period. Swiss National Bank lifted its stake in shares of Chemed by 2.2% in the 1st quarter. Swiss National Bank now owns 27,800 shares of the company’s stock valued at $7,586,000 after purchasing an additional 600 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Chemed in the 4th quarter valued at $1,738,000. Hedge funds and other institutional investors own 94.41% of the company’s stock.
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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