Chemed Corp. (CHE) Shares Bought by Pinebridge Investments L.P.
Pinebridge Investments L.P. grew its stake in Chemed Corp. (NYSE:CHE) by 66.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,544 shares of the company’s stock after purchasing an additional 1,417 shares during the quarter. Pinebridge Investments L.P.’s holdings in Chemed Corp. were worth $725,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CHE. BlackRock Inc. grew its position in shares of Chemed Corp. by 145,760.9% in the first quarter. BlackRock Inc. now owns 1,955,994 shares of the company’s stock valued at $357,341,000 after purchasing an additional 1,954,653 shares during the period. Vanguard Group Inc. grew its position in shares of Chemed Corp. by 7.5% in the first quarter. Vanguard Group Inc. now owns 1,795,773 shares of the company’s stock valued at $328,070,000 after purchasing an additional 125,018 shares during the period. State Street Corp grew its position in shares of Chemed Corp. by 9.1% in the first quarter. State Street Corp now owns 445,367 shares of the company’s stock valued at $81,370,000 after purchasing an additional 37,085 shares during the period. AJO LP grew its position in shares of Chemed Corp. by 49.6% in the second quarter. AJO LP now owns 94,123 shares of the company’s stock valued at $19,251,000 after purchasing an additional 31,200 shares during the period. Finally, Old Mutual Global Investors UK Ltd. grew its position in shares of Chemed Corp. by 672.6% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 34,813 shares of the company’s stock valued at $7,120,000 after purchasing an additional 30,307 shares during the period. Institutional investors and hedge funds own 96.96% of the company’s stock.
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Several analysts have recently issued reports on CHE shares. BidaskClub lowered shares of Chemed Corp. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered shares of Chemed Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Oppenheimer Holdings, Inc. lifted their target price on shares of Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $208.00 target price on shares of Chemed Corp. in a research report on Wednesday, July 5th. Finally, TheStreet lowered shares of Chemed Corp. from a “b+” rating to a “c+” rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Chemed Corp. presently has a consensus rating of “Hold” and an average target price of $215.00.
Chemed Corp. (NYSE CHE) opened at 202.05 on Friday. Chemed Corp. has a 1-year low of $132.92 and a 1-year high of $216.01. The stock has a 50 day moving average of $193.25 and a 200 day moving average of $196.09. The stock has a market capitalization of $3.23 billion, a P/E ratio of 50.12 and a beta of 1.14.
Chemed Corp. (NYSE:CHE) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.26. Chemed Corp. had a net margin of 4.16% and a return on equity of 26.18%. The business had revenue of $415.06 million for the quarter, compared to analysts’ expectations of $407.56 million. During the same period in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that Chemed Corp. will post $8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, August 10th. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.55%. Chemed Corp.’s dividend payout ratio is 28.07%.
In related news, insider Kevin J. Mcnamara sold 15,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total value of $3,017,400.00. Following the sale, the insider now directly owns 173,801 shares of the company’s stock, valued at approximately $34,961,809.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Spencer S. Lee sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $197.46, for a total transaction of $197,460.00. Following the completion of the sale, the insider now directly owns 37,809 shares in the company, valued at $7,465,765.14. The disclosure for this sale can be found here. Corporate insiders own 5.32% of the company’s stock.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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