Brant Point Investment Management LLC Makes New $3.53 Million Investment in Chemed Corporation $CHE

Key Points

• Brant Point Investment Management LLC acquired a new stake in Chemed Corporation, purchasing 5,742 shares valued at approximately $3.5 million during the first quarter.
• The firm recently increased its quarterly dividend from $0.50 to $0.60, reflecting a positive change and representing a 0.5% yield.
• Chemed Corporation reported a quarterly earnings per share of $4.27, which missed analysts' expectations, alongside revenue of $618.8 million, below the anticipated $650.6 million.

Brant Point Investment Management LLC bought a new stake in Chemed Corporation (NYSE:CHE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,742 shares of the company's stock, valued at approximately $3,533,000.

A number of other hedge funds have also made changes to their positions in CHE. GAMMA Investing LLC raised its stake in shares of Chemed by 131,200.8% in the 1st quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock valued at $102,606,000 after acquiring an additional 166,625 shares during the period. Freestone Grove Partners LP purchased a new stake in Chemed during the 4th quarter worth $61,664,000. Point72 Asset Management L.P. purchased a new stake in Chemed during the 4th quarter worth $54,587,000. Fuller & Thaler Asset Management Inc. increased its stake in Chemed by 249.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 130,037 shares of the company's stock worth $80,015,000 after buying an additional 92,813 shares during the period. Finally, Citadel Advisors LLC increased its stake in Chemed by 197.4% during the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock worth $40,870,000 after buying an additional 51,206 shares during the period. Hedge funds and other institutional investors own 95.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CHE shares. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Oppenheimer dropped their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Chemed in a research note on Friday, July 25th. They set a "hold" rating and a $500.00 price target on the stock. Bank of America dropped their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Finally, Royal Bank Of Canada dropped their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Chemed has an average rating of "Moderate Buy" and an average price target of $579.75.

Insider Activity

In related news, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George J. Walsh III acquired 200 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the transaction, the director owned 3,523 shares in the company, valued at $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.29% of the company's stock.

Chemed Trading Up 1.5%

CHE stock traded up $6.72 during mid-day trading on Monday, hitting $458.62. 154,376 shares of the company were exchanged, compared to its average volume of 166,099. The company has a market capitalization of $6.68 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.46. Chemed Corporation has a twelve month low of $408.42 and a twelve month high of $623.60. The firm has a fifty day simple moving average of $463.24 and a 200 day simple moving average of $537.18.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $650.60 million. During the same period last year, the firm posted $5.47 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. As a group, sell-side analysts anticipate that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a $0.60 dividend. This is a boost 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 dividend payout ratio (DPR) is presently 12.34%.

Chemed Company Profile

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.