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

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ValuEngine cut shares of Chemed (NYSE:CHE) from a hold rating to a sell rating in a report released on Tuesday morning, ValuEngine reports.

CHE has been the subject of several other reports. JMP Securities upgraded Chemed from a market perform rating to an outperform rating and set a $490.00 price target for the company in a research note on Friday, November 1st. Oppenheimer boosted their target price on Chemed from $440.00 to $470.00 and gave the stock a market perform rating in a report on Monday, November 25th. Finally, Bank of America raised their price target on shares of Chemed from $470.00 to $500.00 and gave the company a buy rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $435.00.

CHE opened at $429.91 on Tuesday. Chemed has a 1 year low of $260.03 and a 1 year high of $441.79. The company’s 50 day simple moving average is $415.02 and its 200 day simple moving average is $395.09. The stock has a market capitalization of $6.88 billion, a PE ratio of 36.04, a P/E/G ratio of 2.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.64 and a current ratio of 0.67.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.31 by $0.15. The company had revenue of $480.61 million during the quarter, compared to analysts’ expectations of $478.89 million. Chemed had a net margin of 11.14% and a return on equity of 35.06%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.07 EPS. As a group, sell-side analysts expect that Chemed will post 13.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.28 dividend on an annualized basis and a yield of 0.30%. Chemed’s dividend payout ratio (DPR) is 10.73%.

In other news, Director Frank E. Wood sold 2,772 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $414.75, for a total value of $1,149,687.00. Following the completion of the sale, the director now owns 5,429 shares in the company, valued at $2,251,677.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Naomi C. Dallob sold 2,300 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $413.00, for a total value of $949,900.00. Following the completion of the sale, the vice president now owns 8,486 shares of the company’s stock, valued at approximately $3,504,718. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,183 shares of company stock valued at $5,500,386. 3.96% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new stake in shares of Chemed during the second quarter worth approximately $26,000. Advisory Services Network LLC increased its holdings in shares of Chemed by 117.9% in the 2nd 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 last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Chemed by 152.9% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 177 shares of the company’s stock valued at $64,000 after acquiring an additional 107 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Chemed during the 2nd quarter valued at approximately $92,000. Finally, Panagora Asset Management Inc. raised its position in shares of Chemed by 613.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 364 shares of the company’s stock valued at $131,000 after acquiring an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 88.86% of the company’s stock.

About Chemed

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.

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