Alps Advisors Inc. purchased a new position in shares of Chemed Co. (NYSE:CHE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,553 shares of the company’s stock, valued at approximately $496,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in CHE. Fort L.P. purchased a new stake in Chemed during the 2nd quarter worth about $120,000. Cerebellum GP LLC purchased a new stake in Chemed during the 3rd quarter worth about $148,000. Tower Research Capital LLC TRC lifted its holdings in Chemed by 70.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 544 shares of the company’s stock worth $175,000 after buying an additional 224 shares during the last quarter. We Are One Seven LLC purchased a new stake in Chemed during the 3rd quarter worth about $228,000. Finally, Hollencrest Capital Management purchased a new stake in Chemed during the 3rd quarter worth about $231,000. 90.39% of the stock is owned by institutional investors.
A number of analysts have recently commented on CHE shares. Bank of America started coverage on Chemed in a research report on Friday, October 12th. They set a “buy” rating and a $390.00 target price on the stock. Royal Bank of Canada lifted their target price on Chemed to $321.00 and gave the stock a “market perform” rating in a research report on Monday, July 30th. Zacks Investment Research cut Chemed from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, ValuEngine cut Chemed from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $334.00.
In related news, insider Kevin J. Mcnamara sold 7,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $305.98, for a total value of $2,141,860.00. Following the transaction, the insider now owns 141,293 shares in the company, valued at approximately $43,232,832.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $319.50, for a total value of $1,278,000.00. Following the completion of the transaction, the insider now owns 139,491 shares in the company, valued at approximately $44,567,374.50. The disclosure for this sale can be found here. Insiders have sold 13,006 shares of company stock worth $4,064,958 in the last quarter. Insiders own 4.82% of the company’s stock.
CHE opened at $313.69 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.11 and a current ratio of 1.14. Chemed Co. has a one year low of $227.14 and a one year high of $335.99. The stock has a market cap of $4.94 billion, a PE ratio of 58.52, a PEG ratio of 2.69 and a beta of 1.23.
Chemed (NYSE:CHE) last posted its earnings results on Monday, October 29th. The company reported $3.07 EPS for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.27. Chemed had a return on equity of 35.13% and a net margin of 11.73%. The business had revenue of $444.15 million for the quarter, compared to analysts’ expectations of $445.16 million. During the same quarter in the previous year, the firm earned $2.15 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Chemed Co. will post 11.41 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, November 8th. Chemed’s dividend payout ratio (DPR) is currently 22.39%.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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