Pandora Wealth Inc. Buys New Position in Chemed Corporation (NYSE:CHE)

Key Points

• Pandora Wealth Inc. has acquired a new position in Chemed Corporation, purchasing 943 shares valued at approximately $580,000 during the first quarter.
• Chemed recently announced a quarterly dividend increase from $0.50 to $0.60 per share, with the ex-dividend date set for August 11th.
• Despite a decline in earnings and revenue for the last quarter, Chemed's stock opened at $435.82, and it maintains a market cap of $6.35 billion.

Pandora Wealth Inc. bought a new stake in shares of Chemed Corporation (NYSE:CHE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 943 shares of the company's stock, valued at approximately $580,000.

Several other hedge funds also recently added to or reduced their stakes in CHE. GAMMA Investing LLC increased its position in Chemed by 131,200.8% during the 1st quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock valued at $102,606,000 after buying an additional 166,625 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of Chemed in the fourth quarter valued at about $61,664,000. Point72 Asset Management L.P. acquired a new position in shares of Chemed in the fourth quarter valued at about $54,587,000. Raymond James Financial Inc. acquired a new position in shares of Chemed in the fourth quarter valued at about $42,023,000. Finally, Citadel Advisors LLC increased its holdings in shares of Chemed by 197.4% in the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock valued at $40,870,000 after purchasing an additional 51,206 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Oppenheimer cut their price objective on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Royal Bank Of Canada cut their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Jefferies Financial Group assumed coverage on Chemed in a report on Friday, July 25th. They issued a "hold" rating and a $500.00 price objective on the stock. Finally, Bank of America cut their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Chemed has an average rating of "Moderate Buy" and an average price target of $579.75.

Insiders Place Their Bets

In other Chemed news, Director George J. Walsh III purchased 200 shares of the stock in a transaction on Monday, August 4th. The shares were bought at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the transaction, the director owned 3,523 shares of the company's stock, valued at $1,469,443.30. This trade represents a 6.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. 3.29% of the stock is currently owned by company insiders.

Chemed Stock Up 0.2%

Chemed stock opened at $435.82 on Friday. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.40 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's 50-day moving average price is $494.51 and its 200 day moving average price is $548.45.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing the consensus estimate of $6.02 by ($1.75). The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a return on equity of 25.83% and a net margin of 11.56%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $5.47 earnings per share. Equities analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be given a dividend of $0.60 per share. This is an increase from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 11th. Chemed's dividend payout ratio (DPR) is currently 10.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.