Chemed (NYSE:CHE) Shares Gap Down – Time to Sell?

Chemed Co. (NYSE:CHEGet Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $585.46, but opened at $564.67. Chemed shares last traded at $563.82, with a volume of 36,177 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHE shares. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada increased their target price on shares of Chemed from $633.00 to $667.00 and gave the company an “outperform” rating in a research note on Friday, March 14th.

View Our Latest Analysis on CHE

Chemed Stock Performance

The firm has a 50 day moving average price of $587.66 and a two-hundred day moving average price of $567.11. The firm has a market capitalization of $8.13 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Chemed’s dividend payout ratio is currently 9.74%.

Insiders Place Their Bets

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the transaction, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.29% of the company’s stock.

Hedge Funds Weigh In On Chemed

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHE. Norges Bank acquired a new stake in shares of Chemed in the fourth quarter worth $95,872,000. GAMMA Investing LLC boosted its position in Chemed by 131,200.8% during the 1st quarter. GAMMA Investing LLC now owns 166,752 shares of the company’s stock worth $102,606,000 after acquiring an additional 166,625 shares during the period. Freestone Grove Partners LP purchased a new position in Chemed during the 4th quarter valued at about $61,664,000. Point72 Asset Management L.P. acquired a new position in shares of Chemed in the 4th quarter valued at about $54,587,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chemed in the fourth quarter worth approximately $42,023,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Chemed Company Profile

(Get Free Report)

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.

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