First Trust Advisors LP lifted its holdings in shares of Chemed Co. (NYSE:CHE) by 370.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,596 shares of the company’s stock after purchasing an additional 64,248 shares during the quarter. First Trust Advisors LP owned 0.51% of Chemed worth $26,076,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CHE. Fort L.P. bought a new position in shares of Chemed during the second quarter worth approximately $120,000. Cerebellum GP LLC bought a new position in Chemed in the third quarter valued at approximately $148,000. Tower Research Capital LLC TRC increased its stake in Chemed by 70.0% in the second quarter. Tower Research Capital LLC TRC now owns 544 shares of the company’s stock valued at $175,000 after acquiring an additional 224 shares during the last quarter. We Are One Seven LLC bought a new position in Chemed in the third quarter valued at approximately $228,000. Finally, Hollencrest Capital Management bought a new position in Chemed in the third quarter valued at approximately $231,000. 90.39% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on CHE. Bank of America began coverage on shares of Chemed in a research note on Friday, October 12th. They issued a “buy” rating and a $390.00 price objective on the stock. ValuEngine cut shares of Chemed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut shares of Chemed from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Chemed to $321.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Chemed presently has a consensus rating of “Buy” and an average target price of $334.00.
In other Chemed news, VP Michael D. Witzeman sold 1,706 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $322.00, for a total transaction of $549,332.00. Following the sale, the vice president now owns 4,000 shares of the company’s stock, valued at $1,288,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $319.50, for a total transaction of $1,278,000.00. Following the sale, the insider now directly owns 139,491 shares in the company, valued at approximately $44,567,374.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,006 shares of company stock worth $1,923,098. Insiders own 4.82% of the company’s stock.
Shares of NYSE:CHE opened at $306.93 on Monday. The company has a market capitalization of $4.94 billion, a P/E ratio of 57.26, a PEG ratio of 2.69 and a beta of 1.23. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.23. Chemed Co. has a 1 year low of $227.14 and a 1 year high of $335.99.
Chemed (NYSE:CHE) last announced its quarterly earnings data on Monday, October 29th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.27. The business had revenue of $444.15 million for the quarter, compared to analysts’ expectations of $445.16 million. Chemed had a net margin of 11.73% and a return on equity of 35.13%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $2.15 earnings per share. As a group, equities analysts predict that Chemed Co. will post 11.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. Chemed’s payout ratio is presently 22.39%.
Chemed Company Profile
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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