103,610 Shares in Chemed Corporation $CHE Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 103,610 Chemed shares worth approximately $48.3 million, giving it a 0.79% stake; institutional investors collectively own 95.85% of the company.
• Chemed’s latest quarterly results exceeded expectations, with EPS of $6.06 and revenue of $673.25 million, while revenue increased 8.8% year over year. The company also raised its quarterly dividend from $0.60 to $0.70 per share.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $530.75. Chemed shares opened at $503.12, below their 52-week high of $557.00.

Bank of America Corp DE purchased a new stake in shares of Chemed Corporation (NYSE:CHE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,610 shares of the company's stock, valued at approximately $48,255,000. Bank of America Corp DE owned about 0.79% of Chemed as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CHE. Quantbot Technologies LP bought a new position in shares of Chemed in the 2nd quarter valued at about $1,726,000. The Manufacturers Life Insurance Company acquired a new position in shares of Chemed during the 2nd quarter worth about $4,413,000. TD Asset Management Inc raised its holdings in shares of Chemed by 7.5% in the 4th quarter. TD Asset Management Inc now owns 324,546 shares of the company's stock valued at $138,860,000 after purchasing an additional 22,715 shares during the period. Legal & General Group Plc bought a new stake in shares of Chemed in the 2nd quarter valued at about $9,281,000. Finally, BNP Paribas Financial Markets lifted its stake in Chemed by 14.5% in the 4th quarter. BNP Paribas Financial Markets now owns 35,024 shares of the company's stock valued at $14,985,000 after purchasing an additional 4,430 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CHE shares. Wall Street Zen cut Chemed from a "strong-buy" rating to a "buy" rating in a report on Saturday. Bank of America restated a "neutral" rating on shares of Chemed in a research note on Wednesday, July 29th. Oppenheimer raised their price objective on Chemed from $500.00 to $590.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings upgraded Chemed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada boosted their target price on Chemed from $436.00 to $548.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $530.75.

Chemed Stock Performance

NYSE:CHE opened at $503.12 on Monday. The stock has a market cap of $6.58 billion, a P/E ratio of 25.27, a PEG ratio of 2.03 and a beta of 0.51. The stock has a 50 day simple moving average of $523.01 and a 200 day simple moving average of $455.85. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Chemed Corporation has a 1-year low of $365.20 and a 1-year high of $557.00.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.60 by $0.46. The firm had revenue of $673.25 million for the quarter, compared to analyst estimates of $665.04 million. Chemed had a return on equity of 31.77% and a net margin of 10.60%.The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.27 EPS. Chemed has set its FY 2026 guidance at 25.000-25.750 EPS. Research analysts anticipate that Chemed Corporation will post 23.55 earnings per share for the current year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Monday, August 17th were given a dividend of $0.70 per share. This is a positive change from Chemed's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 17th. Chemed's payout ratio is 14.06%.

Insiders Place Their Bets

In other Chemed news, CEO Kevin McNamara sold 2,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $541.16, for a total transaction of $1,082,320.00. Following the transaction, the chief executive officer owned 70,418 shares in the company, valued at $38,107,404.88. This represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Spencer Lee sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $541.04, for a total transaction of $541,040.00. Following the transaction, the executive vice president directly owned 13,912 shares in the company, valued at $7,526,948.48. This represents a 6.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,190 shares of company stock worth $2,803,460 in the last quarter. 3.33% of the stock is currently owned by corporate insiders.

Chemed Company Profile

Chemed Corporation is a diversified holding company that operates businesses in the healthcare and residential and commercial services industries. Its primary operations are conducted through VITAS Healthcare and Roto-Rooter.

VITAS Healthcare provides hospice and palliative care for patients with advanced illnesses. Its services are delivered in patients' homes, hospice residences, nursing facilities, hospitals and other care settings, primarily throughout the United States. Care is provided by interdisciplinary teams that may include physicians, nurses, hospice aides, social workers and chaplains.

Roto-Rooter provides plumbing and drain-cleaning services, as well as water cleanup and related services for residential and commercial customers.

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