Elkfork Partners LLC acquired a new stake in Chemed Co. (NYSE:CHE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,606 shares of the company’s stock, valued at approximately $390,000.
Several other institutional investors also recently made changes to their positions in CHE. Hengehold Capital Management LLC purchased a new position in Chemed during the 4th quarter worth approximately $203,000. Tocqueville Asset Management L.P. purchased a new position in Chemed during the 4th quarter worth approximately $205,000. Magnetar Financial LLC purchased a new position in Chemed during the 3rd quarter worth approximately $207,000. D.A. Davidson & CO. purchased a new position in Chemed during the 4th quarter worth approximately $209,000. Finally, Ellington Management Group LLC purchased a new position in Chemed during the 4th quarter worth approximately $219,000. 94.59% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Naomi C. Dallob sold 1,050 shares of Chemed stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.00, for a total value of $269,850.00. Following the sale, the vice president now owns 6,649 shares of the company’s stock, valued at approximately $1,708,793. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin J. Mcnamara sold 6,000 shares of Chemed stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $258.00, for a total transaction of $1,548,000.00. Following the completion of the sale, the insider now directly owns 140,049 shares in the company, valued at approximately $36,132,642. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
A number of equities analysts have issued reports on CHE shares. ValuEngine lowered shares of Chemed from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Royal Bank of Canada reissued a “hold” rating and set a $258.00 price target on shares of Chemed in a research report on Friday, February 16th. Finally, Oppenheimer raised their price target on shares of Chemed from $270.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $261.33.
Chemed stock opened at $279.67 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market cap of $4,513.19, a P/E ratio of 31.52 and a beta of 1.10. Chemed Co. has a 1-year low of $178.44 and a 1-year high of $285.79.
Chemed (NYSE:CHE) last posted its earnings results on Wednesday, February 14th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.05. The firm had revenue of $428.35 million during the quarter, compared to analyst estimates of $423.83 million. Chemed had a net margin of 5.89% and a return on equity of 30.04%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS.
Chemed announced that its board has initiated a share repurchase plan on Tuesday, March 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, February 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is 19.28%.
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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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