Chemed Corp. (NYSE:CHE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, November 2nd. The brokerage currently has a $251.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 5.40% from the company’s previous close.
According to Zacks, “Chemed exited the third quarter 2017 on a promising note with earnings and revenues ahead of the respective Zacks Consensus Estimate. The company’s both the subsidiaries saw year-over-year revenue growth. Also, the guidance raise backed by the company's expectations of significant gains from its Roto-Rooter business buoys optimism. This business has witnessed consistent growth banking on strong performance within core plumbing and drain cleaning service segments, as well as solid growth in water restoration. The expansion in gross and operating margin buoy optimism. Chemed has been observed to trade above the broader industry over the past three months. However, headwinds like reimbursement related issues, seasonality in business, a competitive landscape and dependence on government mandate pose challenges for Chemed. Moreover, over 90% of VITAS’ revenues consist of payments from the Medicare and Medicaid programs which further intensif”
Other equities research analysts also recently issued reports about the company. TheStreet upgraded Chemed Corp. from a “c+” rating to an “a-” rating in a report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of Chemed Corp. in a report on Friday, October 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $209.00 target price on shares of Chemed Corp. in a report on Tuesday, October 3rd. BidaskClub downgraded Chemed Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. raised their target price on Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $236.00.
Chemed Corp. (NYSE:CHE) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $417.40 million for the quarter, compared to the consensus estimate of $414.34 million. Chemed Corp. had a return on equity of 27.69% and a net margin of 4.62%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.73 EPS. equities research analysts anticipate that Chemed Corp. will post 4.73 earnings per share for the current year.
In other Chemed Corp. news, Director Patrick P. Grace sold 500 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $201.48, for a total transaction of $100,740.00. Following the completion of the sale, the director now owns 4,515 shares in the company, valued at approximately $909,682.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Naomi C. Dallob sold 750 shares of Chemed Corp. stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $222.09, for a total value of $166,567.50. Following the completion of the transaction, the vice president now owns 9,097 shares of the company’s stock, valued at approximately $2,020,352.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,229 shares of company stock valued at $7,556,478. 4.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Chemed Corp. by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,830,711 shares of the company’s stock worth $374,435,000 after acquiring an additional 34,938 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Chemed Corp. by 1.3% in the 2nd quarter. Acadian Asset Management LLC now owns 579,170 shares of the company’s stock worth $118,454,000 after acquiring an additional 7,636 shares in the last quarter. State Street Corp grew its position in shares of Chemed Corp. by 1.8% in the 2nd quarter. State Street Corp now owns 453,605 shares of the company’s stock worth $92,782,000 after acquiring an additional 8,238 shares in the last quarter. Investec Asset Management LTD grew its position in shares of Chemed Corp. by 1.8% in the 3rd quarter. Investec Asset Management LTD now owns 323,231 shares of the company’s stock worth $65,309,000 after acquiring an additional 5,717 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Chemed Corp. by 39.7% in the 2nd quarter. Voya Investment Management LLC now owns 214,764 shares of the company’s stock worth $43,926,000 after acquiring an additional 61,056 shares in the last quarter. Institutional investors own 96.50% of the company’s stock.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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