Integrated Wealth Concepts LLC Acquires 1,936 Shares of Chemed Corporation $CHE

Key Points

• Integrated Wealth Concepts LLC increased its stake in Chemed Corporation by 22.3%, owning about 0.07% of the company, valued at $6.5 million.
• Chemed reported a missed earnings estimate of $4.27 EPS against the consensus of $6.02 and revenue of $618.8 million, below expectations of $650.6 million.
• The company raised its quarterly dividend from $0.50 to $0.60, representing a yield of 0.5% and an annualized payout of $2.40.

Integrated Wealth Concepts LLC grew its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,604 shares of the company's stock after buying an additional 1,936 shares during the quarter. Integrated Wealth Concepts LLC owned approximately 0.07% of Chemed worth $6,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CHE. Alpine Bank Wealth Management purchased a new stake in Chemed in the 1st quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in Chemed in the 1st quarter worth approximately $30,000. SVB Wealth LLC purchased a new stake in Chemed in the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC lifted its holdings in Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 18 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Chemed in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 95.85% of the company's stock.

Analyst Ratings Changes

CHE has been the subject of a number of research analyst reports. Oppenheimer lowered 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. Jefferies Financial Group upgraded Chemed from a "hold" rating to a "buy" rating and raised their target price for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Bank of America lowered their target price on Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank Of Canada lowered their target price on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen cut Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $578.50.

Insiders Place Their Bets

In other Chemed news, Director Patrick P. Grace sold 150 shares of Chemed stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the sale, the director owned 3,397 shares of the company's stock, valued at approximately $1,574,135.83. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Walsh III bought 200 shares of Chemed stock in a transaction on Monday, August 4th. The stock was acquired at an average cost of $417.10 per share, with a total value of $83,420.00. Following the acquisition, the director owned 3,523 shares in the company, valued at approximately $1,469,443.30. This represents a 6.02% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.29% of the company's stock.

Chemed Price Performance

CHE stock traded down $6.67 on Friday, reaching $451.23. 43,298 shares of the company traded hands, compared to its average volume of 141,497. Chemed Corporation has a one year low of $408.42 and a one year high of $623.60. The company has a market cap of $6.57 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.46. The firm has a fifty day simple moving average of $452.36 and a 200-day simple moving average of $531.77.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share 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 company had revenue of $618.80 million for the quarter, compared to the consensus estimate of $650.60 million. During the same period last year, the business earned $5.47 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, sell-side analysts forecast that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The business also recently disclosed 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. 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 dividend on an annualized basis and a yield of 0.5%. Chemed's dividend payout ratio is 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.