Chemed Corporation $CHE Stock Position Lifted by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management Ltd significantly increased its stake in Chemed Corporation by 345.5% during Q2, owning shares valued at over $1.3 million.
• Analysts have varied perspectives on Chemed, with Jefferies upgrading it to a "buy" and setting a price target of $550, while others, like Oppenheimer, cut their target to $580.
• Chemed declared a new quarterly dividend of $0.60 per share, up from $0.50, reflecting a 0.5% yield with a low payout ratio of 12.34%.

Ausbil Investment Management Ltd lifted its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 345.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,753 shares of the company's stock after purchasing an additional 2,135 shares during the quarter. Ausbil Investment Management Ltd's holdings in Chemed were worth $1,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Chemed during the 1st quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of Chemed in the 1st quarter worth approximately $30,000. SVB Wealth LLC bought a new position in shares of Chemed in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC increased its stake in shares of Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares during the period. Finally, WPG Advisers LLC bought a new stake in Chemed during the first quarter worth approximately $32,000. Institutional investors own 95.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group raised Chemed from a "hold" rating to a "buy" rating and increased their price target for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Oppenheimer decreased their target price on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Bank of America cut their price target on shares of Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. 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 report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $578.50.

Insider Buying and Selling at Chemed

In other Chemed news, Director Patrick P. Grace sold 150 shares of the stock in a transaction that occurred 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 in the company, valued at $1,574,135.83. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the director directly owned 3,523 shares in the company, valued at $1,469,443.30. The trade was a 6.02% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.29% of the company's stock.

Chemed Trading Up 2.6%

Shares of CHE opened at $462.30 on Friday. The business's 50-day moving average price is $450.29 and its 200 day moving average price is $521.23. The stock has a market capitalization of $6.74 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.69 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 posted its quarterly earnings data 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 for 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%. Chemed's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.47 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, research analysts predict that Chemed Corporation will post 21.43 earnings per share 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 paid a dividend of $0.60 per share. 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 yield of 0.5%. Chemed's dividend payout ratio (DPR) is presently 12.34%.

Chemed 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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