Chemed (NYSE:CHE) Research Coverage Started at Bank of America

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Bank of America began coverage on shares of Chemed (NYSE:CHE) in a research note published on Friday, October 12th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $390.00 price target on the stock.

CHE has been the topic of several other reports. ValuEngine cut Chemed from a strong-buy rating to a buy rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Chemed from a buy rating to a hold rating in a research note on Tuesday, September 25th. Finally, Royal Bank of Canada raised their target price on shares of Chemed to $321.00 and gave the stock a market perform rating in a research note on Monday, July 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $334.00.

NYSE:CHE traded down $1.81 during midday trading on Friday, hitting $302.23. The stock had a trading volume of 98,300 shares, compared to its average volume of 97,928. Chemed has a one year low of $206.80 and a one year high of $335.99. The stock has a market cap of $4.89 billion, a P/E ratio of 56.39, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.19.

Chemed (NYSE:CHE) last posted its earnings results on Wednesday, July 25th. The company reported $2.81 EPS for the quarter, beating the Zacks’ consensus estimate of $2.77 by $0.04. Chemed had a return on equity of 33.57% and a net margin of 11.00%. The firm had revenue of $441.80 million for the quarter, compared to analysts’ expectations of $434.28 million. During the same period last year, the firm earned $2.15 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chemed will post 11.14 EPS for the current fiscal year.

In other news, VP Michael D. Witzeman sold 1,706 shares of Chemed stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $322.00, for a total transaction of $549,332.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $1,288,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kevin J. Mcnamara sold 4,000 shares of Chemed stock in a transaction that occurred on 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 sale, the insider now directly owns 139,491 shares in the company, valued at approximately $44,567,374.50. The disclosure for this sale can be found here. Insiders sold a total of 6,006 shares of company stock worth $1,923,098 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently bought and sold shares of CHE. Fort L.P. acquired a new position in shares of Chemed in the second quarter worth $120,000. Cerebellum GP LLC acquired a new position in shares of Chemed in the third quarter worth $148,000. Summit Trail Advisors LLC grew its stake in shares of Chemed by 28,358.4% in the first quarter. Summit Trail Advisors LLC now owns 156,521 shares of the company’s stock worth $157,000 after acquiring an additional 155,971 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Chemed by 70.0% in the second quarter. Tower Research Capital LLC TRC now owns 544 shares of the company’s stock worth $175,000 after acquiring an additional 224 shares in the last quarter. Finally, We Are One Seven LLC acquired a new position in shares of Chemed in the third quarter worth $228,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

Chemed Company Profile

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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