Chemed Co. (CHE) Given Consensus Recommendation of “Hold” by Brokerages
Chemed Co. (NYSE:CHE) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $236.00.
CHE has been the subject of a number of research analyst reports. Zacks Investment Research lowered Chemed from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada reiterated a “hold” rating and set a $209.00 price target on shares of Chemed in a report on Tuesday, October 3rd. KeyCorp reiterated a “hold” rating on shares of Chemed in a report on Friday, October 27th. Oppenheimer upped their price target on Chemed from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, TheStreet upgraded Chemed from a “c+” rating to an “a-” rating in a report on Friday, October 27th.
Shares of Chemed (NYSE CHE) opened at $261.61 on Wednesday. The stock has a market capitalization of $4,210.00, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. The company has a current ratio of 0.50, a quick ratio of 0.48 and a debt-to-equity ratio of 0.15. Chemed has a 12-month low of $163.50 and a 12-month high of $266.31.
In related news, CEO Kevin J. Mcnamara sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $223.42, for a total value of $2,234,200.00. Following the completion of the transaction, the chief executive officer now directly owns 170,016 shares in the company, valued at $37,984,974.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael D. Witzeman sold 1,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the vice president now owns 3,334 shares of the company’s stock, valued at $833,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,679 shares of company stock valued at $10,628,959. Corporate insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. APG Asset Management N.V. acquired a new position in shares of Chemed in the third quarter valued at $5,657,000. Cabot Wealth Management Inc. raised its stake in shares of Chemed by 4.1% in the third quarter. Cabot Wealth Management Inc. now owns 18,062 shares of the company’s stock valued at $3,649,000 after purchasing an additional 715 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Chemed by 56.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,030 shares of the company’s stock valued at $1,218,000 after purchasing an additional 2,180 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Chemed by 66.6% in the second quarter. Pinebridge Investments L.P. now owns 3,544 shares of the company’s stock valued at $725,000 after purchasing an additional 1,417 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of Chemed by 9.2% in the third quarter. ClariVest Asset Management LLC now owns 21,655 shares of the company’s stock valued at $4,375,000 after purchasing an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.
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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.
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