Synovus Financial Corp Purchases 592 Shares of Chemed Corporation $CHE

Key Points

• Synovus Financial Corp increased its stake in Chemed Corporation by 47.9%, acquiring an additional 592 shares and bringing its total holdings to 1,827 shares, valued at approximately $1,124,000.
• Chemed's stock is currently priced at $447.00, down by 2.0%, with a 12-month low of $408.42 and a high of $623.60.
• The company recently announced a quarterly dividend increase from $0.50 to $0.60, which will be paid on August 29th, indicating a positive outlook for shareholders.

Synovus Financial Corp raised its position in Chemed Corporation (NYSE:CHE - Free Report) by 47.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,827 shares of the company's stock after purchasing an additional 592 shares during the period. Synovus Financial Corp's holdings in Chemed were worth $1,124,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Chemed by 131,200.8% in the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock worth $102,606,000 after acquiring an additional 166,625 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Chemed during the 4th quarter worth approximately $61,664,000. Point72 Asset Management L.P. bought a new stake in Chemed during the 4th quarter worth approximately $54,587,000. Fuller & Thaler Asset Management Inc. increased its stake in Chemed by 249.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 130,037 shares of the company's stock worth $80,015,000 after purchasing an additional 92,813 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in Chemed by 197.4% during the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock worth $40,870,000 after purchasing an additional 51,206 shares in the last quarter. 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 reduced their target price on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Bank of America reduced their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Jefferies Financial Group began coverage on Chemed in a report on Friday, July 25th. They set a "hold" rating and a $500.00 price objective for the company. Finally, Royal Bank Of Canada decreased their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $579.75.

Chemed Stock Performance

Chemed stock traded up $6.72 during midday trading on Friday, reaching $458.62. 154,376 shares of the company's stock were exchanged, compared to its average volume of 172,316. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 2.52 and a beta of 0.46. The stock's 50-day simple moving average is $463.24 and its 200 day simple moving average is $537.34.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $650.60 million. During the same quarter in the previous year, the business posted $5.47 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Research analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. Chemed's payout ratio is presently 12.34%.

Insider Buying and Selling at Chemed

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

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.