Chemed (NYSE:CHE) Director Patrick Grace Sells 150 Shares

Key Points

• Patrick Grace, a director at Chemed Corporation, sold 150 shares at $463.39 each, reducing his ownership by 4.23% to 3,397 shares valued at approximately $1.57 million.
• Chemed reported quarterly earnings of $4.27 per share, missing analysts' estimates of $6.02, with revenue of $618.80 million, below expectations of $650.60 million.
• The company recently increased its quarterly dividend from $0.50 to $0.60 per share, resulting in an annualized dividend yield of 0.5%.

Chemed Corporation (NYSE:CHE - Get Free Report) Director Patrick Grace sold 150 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the transaction, the director directly owned 3,397 shares in the company, valued at approximately $1,574,135.83. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Chemed Stock Down 2.2%

NYSE CHE traded down $10.19 during trading hours on Wednesday, reaching $452.56. The company's stock had a trading volume of 135,712 shares, compared to its average volume of 141,117. The firm's 50-day moving average price is $453.06 and its 200-day moving average price is $532.95. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.56 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The business had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. During the same period in the prior year, the firm posted $5.47 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities research analysts anticipate that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a dividend of $0.60 per share. This is a positive change from Chemed's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Chemed's payout ratio is currently 12.34%.

Institutional Trading of Chemed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Chemed in the second quarter worth approximately $89,388,000. GAMMA Investing LLC lifted its position in Chemed by 131,200.8% during the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock worth $102,606,000 after buying an additional 166,625 shares in the last quarter. AQR Capital Management LLC lifted its position in Chemed by 160.9% during the second quarter. AQR Capital Management LLC now owns 201,041 shares of the company's stock worth $97,893,000 after buying an additional 123,982 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Chemed during the fourth quarter worth approximately $54,587,000. Finally, Acadian Asset Management LLC lifted its position in Chemed by 69.3% during the second quarter. Acadian Asset Management LLC now owns 250,722 shares of the company's stock worth $122,056,000 after buying an additional 102,597 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHE has been the topic of several recent research reports. Jefferies Financial Group upgraded Chemed from a "hold" rating to a "buy" rating and increased their price target for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Bank of America cut their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a research report on Wednesday. Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Royal Bank Of Canada dropped their price target on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Oppenheimer dropped their price objective on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $578.50.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.