Bessemer Group Inc. cut its stake in shares of Chemed Corp. (NYSE:CHE) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,100 shares of the company’s stock after selling 700 shares during the period. Bessemer Group Inc. owned 0.09% of Chemed Corp. worth $3,088,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Capital Insight Partners LLC boosted its stake in Chemed Corp. by 0.4% in the first quarter. Capital Insight Partners LLC now owns 7,074 shares of the company’s stock valued at $1,292,000 after buying an additional 30 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Chemed Corp. by 1.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,891 shares of the company’s stock valued at $711,000 after buying an additional 39 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Chemed Corp. by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 3,700 shares of the company’s stock valued at $676,000 after buying an additional 40 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Chemed Corp. by 2.7% in the second quarter. Capstone Asset Management Co. now owns 1,857 shares of the company’s stock valued at $380,000 after buying an additional 49 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Chemed Corp. by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,810 shares of the company’s stock valued at $330,000 after buying an additional 50 shares during the last quarter. 97.78% of the stock is currently owned by hedge funds and other institutional investors.
Chemed Corp. (CHE) traded up 0.06% during trading on Friday, reaching $187.59. The company had a trading volume of 75,906 shares. The firm’s 50 day moving average is $199.37 and its 200 day moving average is $192.75. The company has a market capitalization of $3.00 billion, a PE ratio of 46.54 and a beta of 1.14. Chemed Corp. has a one year low of $130.05 and a one year high of $216.01.
Chemed Corp. (NYSE:CHE) last posted its earnings results on Tuesday, July 25th. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The company had revenue of $415.06 million for the quarter, compared to the consensus estimate of $407.56 million. Chemed Corp. had a return on equity of 26.18% and a net margin of 4.16%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 earnings per share. On average, equities research analysts predict that Chemed Corp. will post $8.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a $0.28 dividend. This is an increase 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 0.60%. The ex-dividend date of this dividend is Thursday, August 10th. Chemed Corp.’s payout ratio is currently 28.07%.
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Several analysts have weighed in on the company. BidaskClub cut Chemed Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. increased their price objective on Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. TheStreet lowered Chemed Corp. from a “b+” rating to a “c+” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $209.00 price objective on shares of Chemed Corp. in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded Chemed Corp. from a “hold” rating to a “buy” rating and set a $226.00 price objective on the stock in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Chemed Corp. currently has an average rating of “Hold” and a consensus price target of $218.33.
In other news, insider Kevin J. Mcnamara sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $201.16, for a total transaction of $3,017,400.00. Following the transaction, the insider now owns 173,801 shares of the company’s stock, valued at $34,961,809.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George J. Walsh III bought 1,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were acquired at an average cost of $204.56 per share, for a total transaction of $204,560.00. Following the purchase, the director now owns 7,908 shares of the company’s stock, valued at approximately $1,617,660.48. The disclosure for this purchase can be found here. 5.32% of the stock is currently owned by insiders.
About Chemed Corp.
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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