Chemed (NYSE:CHE) Sets New 1-Year Low – What’s Next?

Shares of Chemed Co. (NYSE:CHE) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $522.38 and last traded at $524.24, with a volume of 40559 shares. The stock had previously closed at $524.98.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHE. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Royal Bank of Canada cut their price target on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Chemed Stock Down 1.2 %

The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.32 and a beta of 0.46. The stock has a fifty day moving average price of $568.69 and a two-hundred day moving average price of $564.69.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. During the same quarter last year, the company posted $5.32 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 0.39%. Chemed’s dividend payout ratio is presently 10.11%.

Insiders Place Their Bets

In other news, Director George J. Walsh III sold 400 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the sale, the director now owns 3,046 shares in the company, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $572.77, for a total value of $1,145,540.00. Following the completion of the sale, the chief executive officer now owns 101,735 shares of the company’s stock, valued at approximately $58,270,755.95. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,132 shares of company stock worth $3,003,502 over the last three months. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemed

Hedge funds have recently bought and sold shares of the business. American National Bank & Trust bought a new position in Chemed during the 3rd quarter worth approximately $61,000. GAMMA Investing LLC increased its position in Chemed by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 138 shares of the company’s stock valued at $83,000 after acquiring an additional 52 shares during the period. Quarry LP increased its position in shares of Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after purchasing an additional 166 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Chemed during the 3rd quarter valued at $201,000. Finally, Farther Finance Advisors LLC increased its position in shares of Chemed by 2,314.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock valued at $203,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

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.