Chemed (NYSE:CHE) Downgraded by ValuEngine to “Hold”

Chemed (NYSE:CHE) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other analysts also recently commented on the stock. Bank of America boosted their target price on shares of Chemed from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Oppenheimer boosted their target price on shares of Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their target price on shares of Chemed to $405.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $411.25.

Shares of NYSE CHE traded down $1.91 during midday trading on Wednesday, reaching $412.47. The company’s stock had a trading volume of 57,339 shares, compared to its average volume of 124,742. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $425.22 and a 200 day moving average price of $368.67. Chemed has a one year low of $260.03 and a one year high of $441.79. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11.

Chemed (NYSE:CHE) last released its earnings results on Thursday, July 25th. The company reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.27. Chemed had a net margin of 10.94% and a return on equity of 35.63%. The business had revenue of $473.60 million for the quarter, compared to the consensus estimate of $471.72 million. During the same period in the previous year, the firm earned $2.81 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Chemed will post 13.54 earnings per share for the current fiscal year.

In related news, Director Walter L. Krebs sold 2,910 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $430.41, for a total value of $1,252,493.10. Following the sale, the director now directly owns 9,318 shares in the company, valued at approximately $4,010,560.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin J. Mcnamara sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $432.73, for a total transaction of $2,163,650.00. Following the completion of the sale, the insider now owns 134,712 shares in the company, valued at $58,293,923.76. The disclosure for this sale can be found here. Insiders sold a total of 46,812 shares of company stock worth $20,005,507 over the last quarter. Insiders own 3.96% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in shares of Chemed by 117.9% during the second quarter. Advisory Services Network LLC now owns 85 shares of the company’s stock valued at $30,000 after acquiring an additional 46 shares during the period. Neuburgh Advisers LLC raised its holdings in shares of Chemed by 9.9% during the first quarter. Neuburgh Advisers LLC now owns 3,400 shares of the company’s stock valued at $1,088,000 after acquiring an additional 306 shares during the period. Creative Planning raised its holdings in shares of Chemed by 25.9% during the second quarter. Creative Planning now owns 822 shares of the company’s stock valued at $297,000 after acquiring an additional 169 shares during the period. Great Lakes Advisors LLC raised its holdings in shares of Chemed by 4.2% during the second quarter. Great Lakes Advisors LLC now owns 29,380 shares of the company’s stock valued at $10,602,000 after acquiring an additional 1,190 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Chemed during the second quarter valued at approximately $7,505,000. Institutional investors and hedge funds own 87.12% of the company’s stock.

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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

Further Reading: Can systematic risk be avoided?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Chemed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemed and related companies with MarketBeat.com's FREE daily email newsletter.