Pacad Investment Ltd. grew its stake in shares of Chemed Corp. (NYSE:CHE) by 250.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700 shares of the company’s stock after purchasing an additional 500 shares during the period. Pacad Investment Ltd.’s holdings in Chemed Corp. were worth $143,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Chemed Corp. by 145,760.9% during the first quarter. BlackRock Inc. now owns 1,955,994 shares of the company’s stock valued at $357,341,000 after purchasing an additional 1,954,653 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Chemed Corp. by 7.5% during the first quarter. Vanguard Group Inc. now owns 1,795,773 shares of the company’s stock valued at $328,070,000 after purchasing an additional 125,018 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Chemed Corp. by 2.2% during the first quarter. Neuberger Berman Group LLC now owns 1,060,403 shares of the company’s stock valued at $193,725,000 after purchasing an additional 23,306 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Chemed Corp. by 1.3% during the second quarter. Acadian Asset Management LLC now owns 579,170 shares of the company’s stock valued at $118,454,000 after purchasing an additional 7,636 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Chemed Corp. by 9.1% during the first quarter. State Street Corp now owns 445,367 shares of the company’s stock valued at $81,370,000 after purchasing an additional 37,085 shares during the last quarter. 96.96% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $208.00 target price on shares of Chemed Corp. in a report on Wednesday, July 5th. BidaskClub downgraded Chemed Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. upped their target price on Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. TheStreet downgraded Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Chemed Corp. from a “hold” rating to a “buy” rating and set a $226.00 target price for the company in a report on Friday, July 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $214.00.
In other Chemed Corp. news, Director George J. Walsh III bought 1,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was purchased at an average cost of $204.56 per share, with a total value of $204,560.00. Following the completion of the purchase, the director now owns 7,908 shares in the company, valued at $1,617,660.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin J. Mcnamara sold 15,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total value of $3,017,400.00. Following the completion of the transaction, the insider now directly owns 173,801 shares of the company’s stock, valued at $34,961,809.16. The disclosure for this sale can be found here. 5.32% of the stock is owned by insiders.
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Shares of Chemed Corp. (NYSE:CHE) opened at 195.88 on Friday. Chemed Corp. has a 52 week low of $132.92 and a 52 week high of $216.01. The stock has a market capitalization of $3.13 billion, a P/E ratio of 48.59 and a beta of 1.14. The company has a 50-day moving average price of $193.71 and a 200 day moving average price of $195.72.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. Chemed Corp. had a return on equity of 26.18% and a net margin of 4.16%. The business had revenue of $415.06 million during the quarter, compared to analysts’ expectations of $407.56 million. During the same period in the previous year, the firm earned $1.80 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Chemed Corp. will post $8.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 10th. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. Chemed Corp.’s payout ratio is 28.07%.
Chemed Corp. Company Profile
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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