Chemed (CHE) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Chemed (NYSE:CHE) from a hold rating to a buy rating in a research report report published on Monday.

CHE has been the subject of several other reports. Oppenheimer increased their target price on Chemed from $270.00 to $275.00 and gave the company an outperform rating in a report on Friday, February 16th. Royal Bank of Canada restated a hold rating and set a $258.00 target price on shares of Chemed in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $261.33.

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CHE stock traded down $1.69 during trading on Monday, hitting $279.70. 8,838 shares of the company traded hands, compared to its average volume of 109,569. The stock has a market capitalization of $4,495.90, a PE ratio of 52.50, a P/E/G ratio of 2.60 and a beta of 1.06. Chemed has a 1 year low of $178.44 and a 1 year high of $285.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.88.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, February 14th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.05. The company had revenue of $428.35 million during the quarter, compared to analysts’ expectations of $423.83 million. Chemed had a return on equity of 30.04% and a net margin of 5.89%. Chemed’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. analysts anticipate that Chemed will post 10.72 EPS for the current year.

Chemed announced that its board has authorized a stock repurchase program on Tuesday, March 6th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Monday, February 26th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is currently 20.90%.

In other Chemed news, VP Naomi C. Dallob sold 1,050 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.00, for a total value of $269,850.00. Following the completion of the sale, the vice president now owns 6,649 shares in the company, valued at approximately $1,708,793. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin J. Mcnamara sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $258.00, for a total value of $1,548,000.00. Following the completion of the sale, the insider now owns 140,049 shares of the company’s stock, valued at approximately $36,132,642. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHE. Raymond James Financial Services Advisors Inc. purchased a new stake in Chemed in the 3rd quarter worth approximately $259,000. Ameriprise Financial Inc. lifted its stake in shares of Chemed by 7.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 130,952 shares of the company’s stock valued at $26,462,000 after purchasing an additional 8,517 shares during the period. Macquarie Group Ltd. purchased a new position in shares of Chemed in the 3rd quarter valued at approximately $412,000. American International Group Inc. lifted its stake in shares of Chemed by 5.6% in the 3rd quarter. American International Group Inc. now owns 12,491 shares of the company’s stock valued at $2,524,000 after purchasing an additional 664 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Chemed by 20.1% in the 3rd quarter. Nordea Investment Management AB now owns 10,714 shares of the company’s stock valued at $2,165,000 after purchasing an additional 1,795 shares during the period. Institutional investors and hedge funds own 94.78% of the company’s stock.

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Chemed Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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