Kevin Mcnamara Sells 3,000 Shares of Chemed (NYSE:CHE) Stock

Key Points

• Chemed Corporation CEO Kevin Mcnamara sold 3,000 shares at an average price of $461.28, totaling over $1.3 million, reducing his shareholding by 3.02% to 96,197 shares.
• Chemed reported Q2 earnings of $4.27 per share, missing analyst expectations, while revenue was $618.8 million, also below forecasts of $650.6 million.
• The company increased its quarterly dividend to $0.60 per share from $0.50, representing an annual yield of 0.5%, with a current payout ratio of 12.34%.

Chemed Corporation (NYSE:CHE - Get Free Report) CEO Kevin Mcnamara sold 3,000 shares of the firm's stock in a transaction dated Friday, September 26th. The shares were 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 owned 96,197 shares of the company's stock, valued at $44,373,752.16. The trade was a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Chemed Trading Down 1.4%

Shares of CHE traded down $6.36 on Monday, reaching $455.87. 21,720 shares of the company's stock were exchanged, compared to its average volume of 144,549. The stock has a market capitalization of $6.64 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.46. The business has a 50 day moving average price of $450.29 and a two-hundred day moving average price of $520.75. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The firm had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities research analysts predict that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHE. Creekmur Asset Management LLC acquired a new stake in shares of Chemed during the 2nd quarter worth approximately $28,000. Alpine Bank Wealth Management bought a new stake in shares of Chemed during the 1st quarter worth $29,000. HM Payson & Co. bought a new stake in Chemed in the 1st quarter valued at about $30,000. SVB Wealth LLC bought a new stake in Chemed in the 1st quarter valued at about $30,000. Finally, Whipplewood Advisors LLC raised its stake in Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares during the period. Institutional investors own 95.85% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer dropped 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. Royal Bank Of Canada dropped their price objective on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Bank of America decreased their price target on shares of Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Jefferies Financial Group upgraded shares of Chemed from a "hold" rating to a "buy" rating and upped their price target for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $578.50.

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.

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