Laurus Global Equity Management Inc. Sells 970 Shares of Chemed Corporation $CHE

Key Points

• Laurus Global Equity Management Inc. reduced its holdings in Chemed Corporation by 20.4%, selling 970 shares and now owning 3,790 shares valued at approximately $1.85 million.
• Insider trading has seen significant activity with Director Patrick P. Grace and CEO Kevin J. McNamara selling a total of 3,150 shares in recent transactions.
• Chemed recently increased its quarterly dividend to $0.60, reflecting a 0.5% dividend yield, and set FY 2025 EPS guidance between 22.000-22.300.

Laurus Global Equity Management Inc. decreased its position in Chemed Corporation (NYSE:CHE - Free Report) by 20.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,790 shares of the company's stock after selling 970 shares during the period. Chemed comprises approximately 1.2% of Laurus Global Equity Management Inc.'s portfolio, making the stock its 18th biggest holding. Laurus Global Equity Management Inc.'s holdings in Chemed were worth $1,845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DAVENPORT & Co LLC boosted its stake in Chemed by 10.2% during the second quarter. DAVENPORT & Co LLC now owns 474 shares of the company's stock worth $231,000 after acquiring an additional 44 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Chemed in the second quarter worth approximately $978,000. Smith Salley Wealth Management lifted its position in Chemed by 2.3% during the second quarter. Smith Salley Wealth Management now owns 17,551 shares of the company's stock valued at $8,546,000 after purchasing an additional 396 shares in the last quarter. Ausbil Investment Management Ltd lifted its holdings in Chemed by 345.5% during the second quarter. Ausbil Investment Management Ltd now owns 2,753 shares of the company's stock valued at $1,341,000 after purchasing an additional 2,135 shares in the last quarter. Finally, Formidable Asset Management LLC raised its holdings in Chemed by 0.9% during the second quarter. Formidable Asset Management LLC now owns 20,266 shares of the company's stock valued at $9,868,000 after acquiring an additional 179 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chemed

In other news, Director Patrick P. Grace sold 150 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the transaction, the director owned 3,397 shares of the company's stock, valued at $1,574,135.83. The trade was a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $461.28, for a total transaction of $1,383,840.00. Following the completion of the sale, the chief executive officer directly owned 96,197 shares in the company, valued at $44,373,752.16. This represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,162 shares of company stock worth $5,677,511. 3.29% of the stock is currently owned by insiders.

Chemed Price Performance

NYSE CHE opened at $442.75 on Monday. The stock has a market capitalization of $6.45 billion, a P/E ratio of 22.76, a PEG ratio of 2.58 and a beta of 0.43. The firm's 50-day moving average is $448.71 and its two-hundred day moving average is $515.20. Chemed Corporation has a 12 month low of $408.42 and a 12 month high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share (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 business had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. During the same period in the prior year, the company posted $5.47 earnings per share. The company's 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. As a group, analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors 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 dividend yield of 0.5%. This is a boost from Chemed's previous quarterly dividend of $0.50. Chemed's payout ratio is presently 12.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CHE shares. Bank of America lowered their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Oppenheimer decreased their price objective on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of Chemed in a research report on Saturday, September 27th. Finally, Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and boosted their price objective for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Chemed presently has a consensus rating of "Moderate Buy" and an average 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.

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