Woodline Partners LP Raises Position in Chemed Corporation $CHE

Key Points

• Woodline Partners LP significantly increased its stake in Chemed Corporation by 2,681.0% during the first quarter, owning 58,178 shares worth approximately $35.8 million.
• Chemed announced a quarterly dividend of $0.60 per share, an increase from the previous $0.50, marking an annualized dividend of $2.40.
• The company reported earnings per share of $4.27 for the last quarter, missing analysts' expectations and reflecting a year-over-year revenue increase of 3.8%.

Woodline Partners LP lifted its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 2,681.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,178 shares of the company's stock after buying an additional 56,086 shares during the period. Woodline Partners LP owned about 0.40% of Chemed worth $35,798,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Chemed by 2.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 597,175 shares of the company's stock worth $367,454,000 after buying an additional 15,041 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Chemed by 3.9% in the 1st quarter. Neuberger Berman Group LLC now owns 521,212 shares of the company's stock worth $320,712,000 after acquiring an additional 19,650 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Chemed by 1.7% in the 1st quarter. Boston Trust Walden Corp now owns 246,351 shares of the company's stock worth $151,585,000 after acquiring an additional 4,179 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Chemed by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 218,675 shares of the company's stock worth $134,547,000 after acquiring an additional 19,421 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Chemed by 3.4% in the 1st quarter. Northern Trust Corp now owns 215,523 shares of the company's stock worth $132,616,000 after acquiring an additional 6,988 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chemed news, Director Patrick P. Grace sold 150 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total transaction of $69,508.50. Following the transaction, the director owned 3,397 shares of the company's stock, valued at $1,574,135.83. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. Corporate insiders own 3.29% of the company's stock.

Chemed Price Performance

NYSE:CHE traded down $11.89 during trading hours on Friday, reaching $446.00. 160,245 shares of the company traded hands, compared to its average volume of 167,896. The firm's 50-day moving average is $451.83 and its 200-day moving average is $531.04. The stock has a market cap of $6.50 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.66 and a beta of 0.46. Chemed Corporation has a 1-year low of $408.42 and a 1-year high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last announced its 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). The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, August 11th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Chemed's previous quarterly dividend of $0.50. Chemed's dividend payout ratio is currently 12.34%.

Analyst Ratings Changes

CHE has been the topic of a number of research reports. Royal Bank Of Canada lowered their price target on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Bank of America lowered their price target on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a report on Wednesday. Jefferies Financial Group upgraded 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. Wall Street Zen cut Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Oppenheimer lowered their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $578.50.

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.