Cubist Systematic Strategies LLC Invests $3.60 Million in Chemed Corporation $CHE

Key Points

• Cubist Systematic Strategies LLC acquired 5,847 shares of Chemed Corporation in the first quarter, valued at approximately $3.6 million, highlighting institutional interest in the stock.
• Chemed's quarterly earnings report showed an EPS of $4.27, missing analysts' estimates, and the company has set a fiscal year 2025 guidance of 22.000-22.300 EPS.
• The company recently increased its quarterly dividend to $0.60, resulting in an annualized dividend of $2.40 and a yield of 0.5%, reflecting a commitment to returning value to shareholders.

Cubist Systematic Strategies LLC acquired a new position in Chemed Corporation (NYSE:CHE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,847 shares of the company's stock, valued at approximately $3,598,000.

Several other institutional investors have also recently bought and sold shares of CHE. Bessemer Group Inc. grew 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 valued at $585,000 after buying an additional 118 shares during the period. DAVENPORT & Co LLC acquired a new stake in shares of Chemed during the 1st quarter worth approximately $265,000. Jump Financial LLC acquired a new stake in Chemed in the first quarter valued at approximately $2,777,000. Mather Group LLC. boosted its position in Chemed by 53.3% in the first quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after buying an additional 56 shares in the last quarter. Finally, Park Place Capital Corp raised its stake in shares of Chemed by 71.2% during the first quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after acquiring an additional 1,486 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Chemed Stock Performance

Shares of Chemed stock traded down $11.17 on Wednesday, hitting $451.58. 53,551 shares of the company traded hands, compared to its average volume of 140,638. The stock has a market capitalization of $6.58 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 2.56 and a beta of 0.46. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The business has a 50-day simple moving average of $453.06 and a 200 day simple moving average of $532.95.

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 the consensus estimate of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.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 firm earned $5.47 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Research analysts expect that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a $0.60 dividend. The ex-dividend date was Monday, August 11th. This represents a $2.40 annualized dividend and a yield of 0.5%. This is a boost from Chemed's previous quarterly dividend of $0.50. Chemed's payout ratio is currently 12.34%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and lifted their price target for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Oppenheimer lowered their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Bank of America dropped their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Finally, Royal Bank Of Canada decreased their price objective on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $592.25.

Insider Buying and Selling

In related news, Director George J. Walsh III purchased 200 shares of Chemed stock in a transaction dated Monday, August 4th. The shares were acquired at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the acquisition, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $421.91, for a total transaction of $4,224,162.92. The disclosure for this sale can be found here. 3.29% of the stock is owned by company insiders.

About Chemed

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.