Chemed Corporation $CHE Shares Sold by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. reduced its stake in Chemed Corporation by 67.6% during the second quarter, selling 915 shares, leaving them with 439 shares valued at approximately $214,000.
• Chemed has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $578.50, while some analysts have adjusted their price targets downward.
• The company recently announced a dividend increase, raising it from $0.50 to $0.60 per share, resulting in an annualized yield of 0.6%.

QRG Capital Management Inc. lessened its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 67.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 439 shares of the company's stock after selling 915 shares during the quarter. QRG Capital Management Inc.'s holdings in Chemed were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Chemed during the first quarter valued at about $29,000. HM Payson & Co. bought a new position in shares of Chemed during the 1st quarter valued at about $30,000. SVB Wealth LLC acquired a new position in shares of Chemed in the 1st quarter worth approximately $30,000. WPG Advisers LLC acquired a new position in shares of Chemed in the 1st quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Chemed by 330.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 99 shares of the company's stock worth $61,000 after purchasing an additional 76 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHE has been the topic of several research reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Chemed in a report on Wednesday, October 8th. Jefferies Financial Group raised 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 research report on Tuesday, September 2nd. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Bank of America cut their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Finally, Oppenheimer reduced their price objective on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Chemed currently has a consensus rating of "Moderate Buy" and a consensus target price of $578.50.

Insider Buying and Selling

In related news, Director George J. Walsh III acquired 200 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost of $417.10 per share, with a total value of $83,420.00. Following the purchase, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were 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. Insiders have sold 13,162 shares of company stock valued at $5,677,511 in the last three months. 3.29% of the stock is currently owned by corporate insiders.

Chemed Trading Down 0.5%

NYSE CHE opened at $429.34 on Monday. Chemed Corporation has a 1-year low of $408.42 and a 1-year high of $623.60. The firm's fifty day simple moving average is $448.45 and its 200-day simple moving average is $509.15. The company has a market capitalization of $6.26 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.50 and a beta of 0.43.

Chemed (NYSE:CHE - Get Free Report) last issued 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 firm had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. As a group, analysts predict that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 annualized dividend and a yield of 0.6%. Chemed's dividend payout ratio (DPR) is currently 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.

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