Chemed Co. (CHE) Receives $332.00 Consensus Target Price from Brokerages
Shares of Chemed Co. (NYSE:CHE) have received an average recommendation of “Buy” from the five analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $332.00.
CHE has been the topic of several recent research reports. Bank of America initiated coverage on shares of Chemed in a report on Friday, October 12th. They set a “buy” rating and a $390.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Chemed to $321.00 and gave the company a “market perform” rating in a report on Monday, July 30th. Zacks Investment Research lowered shares of Chemed from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, ValuEngine lowered shares of Chemed from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd.
Shares of NYSE:CHE traded up $4.18 during midday trading on Tuesday, hitting $314.74. 188,237 shares of the company’s stock traded hands, compared to its average volume of 109,103. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 2.76 and a beta of 1.23. Chemed has a twelve month low of $227.98 and a twelve month high of $335.99.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. Chemed’s dividend payout ratio is currently 22.39%.
In other Chemed news, Director Donald E. Saunders sold 300 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $319.22, for a total value of $95,766.00. Following the transaction, the director now owns 8,701 shares in the company, valued at approximately $2,777,533.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Witzeman sold 1,706 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $322.00, for a total transaction of $549,332.00. Following the completion of the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $1,288,000. The disclosure for this sale can be found here. Insiders sold a total of 20,290 shares of company stock worth $6,367,986 in the last quarter. 4.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. LPL Financial LLC bought a new stake in shares of Chemed during the 1st quarter valued at about $236,000. Principal Financial Group Inc. boosted its position in shares of Chemed by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 133,004 shares of the company’s stock valued at $36,291,000 after acquiring an additional 4,689 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Chemed by 7.5% during the 1st quarter. Allianz Asset Management GmbH now owns 2,783 shares of the company’s stock valued at $759,000 after acquiring an additional 195 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Chemed by 35.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,072 shares of the company’s stock valued at $989,000 after acquiring an additional 800 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Chemed by 43.3% during the 2nd quarter. Bank of Montreal Can now owns 7,064 shares of the company’s stock valued at $2,273,000 after acquiring an additional 2,136 shares during the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
Further Reading: Why is the ex-dividend date different from the record date?
Receive News & Ratings for Chemed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemed and related companies with MarketBeat.com's FREE daily email newsletter.