Chemed (NYSE:CHE) Stock Price Down 7.2% Following Weak Earnings

Chemed Co. (NYSE:CHE)’s stock price traded down 7.2% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $561.00 and last traded at $573.47. 71,152 shares changed hands during trading, a decline of 8% from the average session volume of 77,294 shares. The stock had previously closed at $617.95.

The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.03% and a return on equity of 32.29%. The firm had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a $0.40 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.60 annualized dividend and a yield of 0.28%. Chemed’s dividend payout ratio is presently 8.93%.

Analyst Upgrades and Downgrades

CHE has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada upped their price objective on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a report on Monday, March 4th.

Insider Buying and Selling at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Spencer S. Lee sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock valued at $10,184,531 in the last ninety days. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Chemed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its position in Chemed by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 4,300 shares of the company’s stock valued at $2,760,000 after acquiring an additional 100 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in shares of Chemed by 5.4% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 5,565 shares of the company’s stock valued at $3,573,000 after purchasing an additional 285 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Chemed by 46.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,376 shares of the company’s stock valued at $2,167,000 after purchasing an additional 1,068 shares during the period. Raymond James & Associates lifted its stake in shares of Chemed by 6.1% in the 1st quarter. Raymond James & Associates now owns 72,086 shares of the company’s stock valued at $46,274,000 after purchasing an additional 4,168 shares during the period. Finally, American National Bank & Trust Co. VA acquired a new stake in Chemed during the 1st quarter worth $3,122,000. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Trading Down 6.5 %

The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 2.47 and a beta of 0.42. The company has a 50 day moving average of $624.00 and a 200 day moving average of $590.66.

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