Chemed Corporation $CHE Shares Bought by Woodline Partners LP

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 raised its position in Chemed Corporation (NYSE:CHE - Free Report) by 2,681.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,178 shares of the company's stock after acquiring an additional 56,086 shares during the quarter. Woodline Partners LP owned approximately 0.40% of Chemed worth $35,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. increased its holdings in shares of Chemed by 14.2% in the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company's stock worth $585,000 after buying an additional 118 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Chemed in the 1st quarter worth about $265,000. Jump Financial LLC bought a new stake in shares of Chemed in the 1st quarter worth about $2,777,000. Mather Group LLC. increased its holdings in shares of Chemed by 53.3% in the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock worth $99,000 after buying an additional 56 shares during the last quarter. Finally, Park Place Capital Corp increased its holdings in shares of Chemed by 71.2% in the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock worth $2,198,000 after buying an additional 1,486 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Trading Down 1.0%

Shares of CHE traded down $4.39 during mid-day trading on Monday, hitting $442.01. The company's stock had a trading volume of 49,620 shares, compared to its average volume of 141,635. Chemed Corporation has a 52-week low of $408.42 and a 52-week high of $623.60. The company's 50-day moving average is $451.83 and its 200-day moving average is $530.54. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.60 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted 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). Chemed had a net margin of 11.56% and a return on equity of 25.83%. The firm had revenue of $618.80 million for the quarter, compared to analysts' expectations of $650.60 million. During the same period in the previous year, the company earned $5.47 EPS. The company's 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 predict that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a dividend of $0.60 per share. 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Chemed's dividend payout ratio is currently 12.34%.

Insider Activity at Chemed

In related news, Director Patrick P. Grace sold 150 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total transaction of $69,508.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George J. Walsh III bought 200 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average cost of $417.10 per share, with a total value of $83,420.00. Following the transaction, the director directly owned 3,523 shares of the company's stock, 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. 3.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHE. Jefferies Financial Group upgraded shares of Chemed from a "hold" rating to a "buy" rating and boosted their target price for the stock from $490.00 to $550.00 in a report on Tuesday, September 2nd. Bank of America cut their price target on shares of Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Oppenheimer cut 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. Finally, Royal Bank Of Canada dropped their target price 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. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Chemed has an average rating of "Buy" and a consensus target price 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.