Chemed Co. (CHE) Given Consensus Rating of “Buy” by Analysts

Shares of Chemed Co. (NYSE:CHE) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $328.67.

A number of research firms recently issued reports on CHE. Royal Bank of Canada boosted their target price on shares of Chemed to $321.00 and gave the company a “market perform” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of Chemed from a “hold” rating to a “buy” rating and set a $350.00 target price for the company in a research report on Tuesday, July 31st. ValuEngine downgraded shares of Chemed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Bank of America initiated coverage on shares of Chemed in a research report on Friday, October 12th. They issued a “buy” rating and a $390.00 price objective for the company.

NYSE CHE opened at $304.04 on Friday. The firm has a market cap of $5.14 billion, a P/E ratio of 56.72, a price-to-earnings-growth ratio of 2.89 and a beta of 1.17. Chemed has a 1 year low of $203.84 and a 1 year high of $335.99. 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 (NYSE:CHE) last posted its earnings results on Wednesday, July 25th. The company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.04. The company had revenue of $441.80 million during the quarter, compared to the consensus estimate of $434.28 million. Chemed had a net margin of 11.00% and a return on equity of 33.57%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 earnings per share. On average, equities analysts predict that Chemed will post 11.05 EPS for the current fiscal year.

In other news, insider Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $319.50, for a total transaction of $1,278,000.00. Following the completion of the sale, the insider now owns 139,491 shares of the company’s stock, valued at $44,567,374.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael D. Witzeman sold 1,706 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $322.00, for a total transaction of $549,332.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $1,288,000. The disclosure for this sale can be found here. Insiders have sold 6,006 shares of company stock valued at $1,923,098 in the last three months. Corporate insiders own 4.82% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of Chemed by 24.8% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 180,144 shares of the company’s stock worth $57,570,000 after purchasing an additional 35,841 shares in the last quarter. Boston Partners increased its stake in shares of Chemed by 2.7% during the second quarter. Boston Partners now owns 160,271 shares of the company’s stock worth $51,577,000 after purchasing an additional 4,186 shares in the last quarter. Summit Trail Advisors LLC increased its stake 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 worth $157,000 after purchasing an additional 155,971 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Chemed by 92.6% during the second quarter. Renaissance Technologies LLC now owns 137,900 shares of the company’s stock worth $44,378,000 after purchasing an additional 66,300 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Chemed by 3.7% during the first quarter. Principal Financial Group Inc. now owns 133,004 shares of the company’s stock worth $36,291,000 after purchasing an additional 4,689 shares in the last quarter. 90.54% of the stock is owned by institutional investors and hedge funds.

About Chemed

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.

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