Key Points
- Chemed CEO Kevin Mcnamara sold 2,000 shares for $1.08 million at an average price of $537.90, reducing his stake by 2.37%; he retained 82,220 shares.
- Chemed beat quarterly expectations, reporting $6.75 earnings per share and $690.94 million in revenue, up 10.6% year over year.
- Analysts’ consensus rating was Hold, with a $603 average price target; Oppenheimer and UBS raised their targets to $625 and $675, respectively.
Chemed Corporation (NYSE:CHE - Get Free Report) CEO Kevin Mcnamara sold 2,000 shares of Chemed stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $537.90, for a total value of $1,075,800.00. Following the sale, the chief executive officer directly owned 82,220 shares in the company, valued at $44,226,138. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Chemed Stock Down 2.8%
CHE stock opened at $533.43 on Friday. Chemed Corporation has a 52 week low of $365.20 and a 52 week high of $562.24. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.08 and a beta of 0.50. The firm's 50-day moving average is $514.34 and its two-hundred day moving average is $464.69. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.
Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, topping the consensus estimate of $6.44 by $0.31. Chemed had a return on equity of 35.18% and a net margin of 10.61%. The firm had revenue of $690.94 million for the quarter, compared to analysts' expectations of $685.04 million. During the same quarter in the previous year, the company earned $5.27 earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Chemed Corporation will post 24.05 earnings per share for the current fiscal year.
Institutional Trading of Chemed
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ritholtz Wealth Management grew its position in Chemed by 15.1% in the third quarter. Ritholtz Wealth Management now owns 512 shares of the company's stock worth $259,000 after buying an additional 67 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Chemed by 23.4% in the third quarter. Illinois Municipal Retirement Fund now owns 14,971 shares of the company's stock valued at $7,561,000 after buying an additional 2,842 shares in the last quarter. Lido Advisors LLC increased its holdings in shares of Chemed by 88.3% in the third quarter. Lido Advisors LLC now owns 966 shares of the company's stock valued at $488,000 after buying an additional 453 shares in the last quarter. AlphaCore Capital LLC increased its holdings in shares of Chemed by 6.4% in the third quarter. AlphaCore Capital LLC now owns 1,046 shares of the company's stock valued at $528,000 after buying an additional 63 shares in the last quarter. Finally, Fulcrum Asset Management LLP lifted its position in shares of Chemed by 121.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 71 shares of the company's stock valued at $36,000 after acquiring an additional 39 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on CHE shares. Oppenheimer boosted their price objective on Chemed from $590.00 to $625.00 and gave the stock an "outperform" rating in a research note on Thursday, October 29th. UBS Group upped their price objective on Chemed from $650.00 to $675.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Bank of America reaffirmed a "neutral" rating on shares of Chemed in a research note on Wednesday, July 29th. Royal Bank Of Canada lifted their target price on Chemed from $548.00 to $585.00 and gave the stock a "sector perform" rating in a report on Thursday, October 29th. Finally, Wall Street Zen upgraded shares of Chemed from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $603.00.
Read Our Latest Report on Chemed
About Chemed
(
Get Free Report)
Chemed Corporation (NYSE:CHE) is a Cincinnati, Ohio-based company that provides healthcare and residential and commercial services through two operating businesses: VITAS Healthcare and Roto-Rooter. Its operations serve customers primarily in the United States, with Roto-Rooter also providing services in Canada.
VITAS Healthcare is a provider of hospice and palliative care for individuals with advanced illnesses. The business delivers care in patients' homes, hospice inpatient units, hospitals, nursing facilities and other care settings.
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