Nicholas Michael Westfall Sells 10,012 Shares of Chemed Corporation (NYSE:CHE) Stock

Key Points

• Nicholas Michael Westfall, EVP of Chemed Corporation, sold 10,012 shares at $421.91 per share, totaling over $4.2 million.
• Chemed has announced a quarterly dividend increase to $0.60 per share, reflecting an annualized dividend of $2.40 with a yield of 0.6%.
• The company reported earnings per share (EPS) of $4.27 for the last quarter, falling short of expectations by $1.75, despite a year-over-year revenue growth of 3.8%.

Chemed Corporation (NYSE:CHE - Get Free Report) EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $421.91, for a total transaction of $4,224,162.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Chemed Trading Up 1.4%

Shares of NYSE CHE traded up $5.77 during mid-day trading on Tuesday, reaching $429.10. The company had a trading volume of 57,570 shares, compared to its average volume of 135,371. The business's 50-day moving average is $505.95 and its 200-day moving average is $551.83. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results 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 net margin of 11.56% and a return on equity of 25.83%. 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 earned $5.47 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

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

Institutional Investors Weigh In On Chemed

Several hedge funds and other institutional investors have recently bought and sold shares of CHE. Creekmur Asset Management LLC acquired a new stake in shares of Chemed during the second quarter worth about $28,000. AdvisorShares Investments LLC boosted its stake in shares of Chemed by 10.2% during the 2nd quarter. AdvisorShares Investments LLC now owns 959 shares of the company's stock worth $467,000 after purchasing an additional 89 shares during the last quarter. Strs Ohio increased its stake in shares of Chemed by 23.3% during the 2nd quarter. Strs Ohio now owns 3,368 shares of the company's stock valued at $1,640,000 after acquiring an additional 636 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Chemed in the 2nd quarter valued at about $214,000. Finally, Atria Investments Inc grew its stake in shares of Chemed by 0.6% in the second quarter. Atria Investments Inc now owns 4,259 shares of the company's stock valued at $2,074,000 after buying an additional 25 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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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