Chemed (NYSE:CHE) Director Sells $69,508.50 in Stock

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 P. Grace sold 150 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the transaction, the director directly owned 3,397 shares of the company's stock, valued at approximately $1,574,135.83. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Chemed Stock Performance

NYSE CHE traded down $3.82 on Monday, hitting $442.58. 235,121 shares of the stock traded hands, compared to its average volume of 142,732. The business's fifty day moving average is $451.83 and its two-hundred day moving average is $530.54. Chemed Corporation has a 12 month low of $408.42 and a 12 month high of $623.60. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.60 and a beta of 0.46.

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

Chemed Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and upped their price target for the stock from $490.00 to $550.00 in a report on Tuesday, September 2nd. Oppenheimer decreased their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada decreased their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Bank of America dropped their price objective on shares of Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $578.50.

Institutional Investors Weigh In On Chemed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its holdings in Chemed by 54.5% in the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares in the last quarter. Renasant Bank raised its holdings in Chemed by 2.3% in the first quarter. Renasant Bank now owns 815 shares of the company's stock worth $501,000 after purchasing an additional 18 shares in the last quarter. Impact Capital Partners LLC raised its holdings in Chemed by 2.7% in the first quarter. Impact Capital Partners LLC now owns 763 shares of the company's stock worth $469,000 after purchasing an additional 20 shares in the last quarter. Cim LLC raised its holdings in Chemed by 1.0% in the first quarter. Cim LLC now owns 2,029 shares of the company's stock worth $1,248,000 after purchasing an additional 21 shares in the last quarter. Finally, KFG Wealth Management LLC raised its holdings in Chemed by 4.6% in the first quarter. KFG Wealth Management LLC now owns 525 shares of the company's stock worth $323,000 after purchasing an additional 23 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors.

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.