Chemed (NYSE:CHE) Sets New 52-Week High at $568.10

Posted by Defense World Staff on Apr 23rd, 2023

Chemed Co. (NYSE:CHE – Get Rating) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $568.10 and last traded at $565.58, with a volume of 1572 shares changing hands. The stock had previously closed at $565.47.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Chemed from $545.00 to $587.00 and gave the company an “outperform” rating in a report on Monday, February 27th. StockNews.com initiated coverage on Chemed in a research note on Thursday, March 16th. They set a “buy” rating for the company.

Chemed Trading Up 0.2 %

The company’s 50 day moving average is $529.12 and its two-hundred day moving average is $505.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.88. The firm has a market cap of $8.50 billion, a P/E ratio of 34.28, a PEG ratio of 3.08 and a beta of 0.53.

Chemed (NYSE:CHE – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The company reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.09. Chemed had a net margin of 11.69% and a return on equity of 41.54%. The firm had revenue of $546.65 million for the quarter, compared to analysts’ expectations of $546.60 million. During the same period in the prior year, the firm earned $5.25 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Chemed Co. will post 20.85 earnings per share for the current year.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, February 27th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, February 24th. Chemed’s payout ratio is presently 9.20%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $507.32, for a total transaction of $1,014,640.00. Following the sale, the chief executive officer now directly owns 121,613 shares of the company’s stock, valued at approximately $61,696,707.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO David Patrick Williams sold 4,000 shares of Chemed stock in a transaction on Monday, March 20th. The stock was sold at an average price of $523.25, for a total transaction of $2,093,000.00. Following the completion of the sale, the chief financial officer now owns 20,443 shares of the company’s stock, valued at $10,696,799.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $507.32, for a total value of $1,014,640.00. Following the transaction, the chief executive officer now owns 121,613 shares in the company, valued at approximately $61,696,707.16. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock valued at $4,686,450 in the last 90 days. 4.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Janiczek Wealth Management LLC increased its stake in shares of Chemed by 309.1% in the first quarter. Janiczek Wealth Management LLC now owns 45 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Chemed during the 4th quarter worth approximately $26,000. Canada Pension Plan Investment Board bought a new position in Chemed during the first quarter worth $46,000. CI Investments Inc. raised its holdings in shares of Chemed by 44.2% during the fourth quarter. CI Investments Inc. now owns 111 shares of the company’s stock valued at $57,000 after purchasing an additional 34 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of Chemed by 29.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 115 shares of the company’s stock worth $50,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.

Chemed Company Profile

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Chemed Corp. engages in the provision of healthcare and maintenance services. It operates through the VITAS and Roto-Rooter segments. The VITAS segment offers hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.