Chemed (NYSE:CHE) Stock Price Up 7.1% – Here’s Why

Chemed Co. (NYSE:CHE)’s share price traded up 7.1% on Thursday . The company traded as high as $595.92 and last traded at $584.61. 131,939 shares traded hands during trading, an increase of 42% from the average session volume of 92,597 shares. The stock had previously closed at $545.79.

Analyst Ratings Changes

A number of research firms recently issued reports on CHE. Royal Bank of Canada decreased their target price on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Chemed Stock Performance

The firm’s 50-day simple moving average is $543.86 and its 200 day simple moving average is $563.11. The company has a market capitalization of $8.82 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.15 and a beta of 0.48.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Monday, February 24th. Chemed’s dividend payout ratio is currently 10.11%.

Insider Buying and Selling

In other Chemed news, VP Brian C. Judkins bought 145 shares of the business’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. The trade was a 9.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Chemed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its stake in shares of Chemed by 335.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,453 shares of the company’s stock valued at $770,000 after buying an additional 1,119 shares during the period. United Advisor Group LLC raised its position in Chemed by 25.1% in the fourth quarter. United Advisor Group LLC now owns 807 shares of the company’s stock valued at $428,000 after purchasing an additional 162 shares during the period. Ascent Group LLC acquired a new stake in Chemed in the fourth quarter valued at approximately $258,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in Chemed during the 4th quarter valued at $917,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Chemed by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,197 shares of the company’s stock valued at $25,535,000 after buying an additional 2,277 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

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.