Chemed (NYSE:CHE) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Chemed (NYSE:CHE) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Chemed Stock Performance

Shares of NYSE:CHE opened at $595.86 on Friday. The firm has a market cap of $8.72 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. The firm’s 50 day simple moving average is $552.41 and its 200-day simple moving average is $563.97. Chemed has a one year low of $512.12 and a one year high of $654.62.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Monday, February 24th. Chemed’s dividend payout ratio (DPR) is presently 10.05%.

Insider Transactions at Chemed

In related news, VP Brian C. Judkins bought 145 shares of Chemed stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares in the company, valued at $871,721. The trade was a 9.46 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the transaction, the chief executive officer now owns 102,679 shares in the company, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Chemed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc boosted its stake in shares of Chemed by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 457 shares of the company’s stock valued at $242,000 after purchasing an additional 22 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Chemed by 64.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock valued at $30,000 after purchasing an additional 22 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Chemed by 13.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company’s stock valued at $98,000 after acquiring an additional 22 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Chemed by 1.9% in the third quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock valued at $814,000 after acquiring an additional 25 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in Chemed by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock valued at $1,207,000 after acquiring an additional 25 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors.

About Chemed

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.