Chemed (NYSE:CHE) Upgraded at StockNews.com

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

Chemed Stock Up 0.3 %

CHE stock opened at $595.86 on Friday. Chemed has a fifty-two week low of $512.12 and a fifty-two week high of $654.62. The firm’s 50-day simple moving average is $553.87 and its 200 day simple moving average is $563.91. The stock 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.

Chemed Announces Dividend

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

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $60,957,441.93. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian C. Judkins acquired 145 shares of Chemed stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $519.50 per share, with a total value of $75,327.50. Following the transaction, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. This represents a 9.46 % increase in their position. The disclosure for this purchase can be found here. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chemed

Several large investors have recently made changes to their positions in CHE. Norges Bank bought a new position in shares of Chemed during the 4th quarter valued at about $95,872,000. Freestone Grove Partners LP bought a new position in shares of Chemed during the 4th quarter valued at about $61,664,000. Point72 Asset Management L.P. bought a new position in shares of Chemed during the 4th quarter valued at about $54,587,000. Raymond James Financial Inc. acquired a new position in shares of Chemed in the fourth quarter worth about $42,023,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Chemed by 197.4% in the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company’s stock worth $40,870,000 after buying an additional 51,206 shares during the period. 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.