Chemed Corp. (CHE) Sees Strong Trading Volume
Chemed Corp. (NYSE:CHE) shares saw unusually-high trading volume on Monday . Approximately 192,716 shares were traded during mid-day trading, an increase of 86% from the previous session’s volume of 103,638 shares.The stock last traded at $131.99 and had previously closed at $131.20.
CHE has been the topic of several recent analyst reports. Zacks Investment Research raised Chemed Corp. from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research note on Thursday, July 28th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Chemed Corp. in a research note on Saturday, April 30th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $162.00 price target (up previously from $136.00) on shares of Chemed Corp. in a research note on Wednesday, July 27th. Finally, Royal Bank Of Canada upped their price target on Chemed Corp. from $136.00 to $162.00 and gave the company a “sector perform” rating in a research note on Wednesday, 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. Chemed Corp. currently has a consensus rating of “Hold” and an average price target of $159.00.
The stock’s 50 day moving average is $140.60 and its 200-day moving average is $134.46. The stock has a market cap of $2.14 billion and a PE ratio of 20.93.
Chemed Corp. (NYSE:CHE) last released its quarterly earnings data on Monday, July 25th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.08. During the same period in the previous year, the business earned $1.71 earnings per share. The firm earned $290 million during the quarter, compared to analysts’ expectations of $393.50 million. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Chemed Corp. will post $7.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Monday, August 15th will be given a dividend of $0.26 per share. This is a positive change from Chemed Corp.’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, August 11th.
In other Chemed Corp. news, Director Donald E. Saunders sold 500 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $144.32, for a total transaction of $72,160.00. Following the completion of the transaction, the director now owns 10,786 shares of the company’s stock, valued at $1,556,635.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin J. Mcnamara sold 18,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $144.87, for a total value of $2,607,660.00. Following the transaction, the insider now directly owns 163,266 shares of the company’s stock, valued at approximately $23,652,345.42. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Chemed Corp. by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 114,771 shares of the company’s stock valued at $17,193,000 after buying an additional 5,812 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Chemed Corp. by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 370,170 shares of the company’s stock valued at $55,453,000 after buying an additional 29,461 shares during the last quarter. Schroder Investment Management Group increased its position in Chemed Corp. by 127.8% in the fourth quarter. Schroder Investment Management Group now owns 254,400 shares of the company’s stock valued at $38,109,000 after buying an additional 142,700 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Chemed Corp. by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 16,400 shares of the company’s stock valued at $2,457,000 after buying an additional 800 shares during the last quarter.
Chemed Corporation operates and divests subsidiaries engaged in diverse business activities. The Company operates its business in two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS segment 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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