Chemed Corp. (CHE) Stake Increased by Renaissance Technologies LLC
Renaissance Technologies LLC grew its holdings in Chemed Corp. (NYSE:CHE) by 248.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,400 shares of the company’s stock after buying an additional 50,200 shares during the quarter. Renaissance Technologies LLC owned about 0.44% of Chemed Corp. worth $14,399,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CHE. Acrospire Investment Management LLC acquired a new stake in shares of Chemed Corp. in the 2nd quarter valued at approximately $120,000. Pacad Investment Ltd. raised its holdings in Chemed Corp. by 250.0% during the second quarter. Pacad Investment Ltd. now owns 700 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Chemed Corp. by 12.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock worth $150,000 after purchasing an additional 83 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Chemed Corp. during the second quarter worth $209,000. Finally, World Asset Management Inc acquired a new position in Chemed Corp. during the second quarter worth $216,000. 96.97% of the stock is owned by institutional investors and hedge funds.
CHE has been the subject of several research reports. BidaskClub cut Chemed Corp. from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $208.00 price objective on shares of Chemed Corp. in a report on Wednesday, July 5th. TheStreet cut Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. lifted their price objective on Chemed Corp. from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Chemed Corp. from a “hold” rating to a “buy” rating and set a $226.00 price objective for the company in a report on Friday, July 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $215.00.
Chemed Corp. (NYSE CHE) opened at 201.16 on Tuesday. The firm has a market capitalization of $3.22 billion, a PE ratio of 49.90 and a beta of 1.13. The company’s 50-day moving average price is $196.75 and its 200 day moving average price is $198.04. Chemed Corp. has a one year low of $132.92 and a one year high of $216.01.
Chemed Corp. (NYSE:CHE) last released its earnings results on Tuesday, July 25th. The company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The firm had revenue of $415.06 million during the quarter, compared to the consensus estimate of $407.56 million. Chemed Corp. had a return on equity of 26.18% and a net margin of 4.16%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, analysts forecast that Chemed Corp. will post $8.21 earnings per share for the current year.
In other news, Director Patrick P. Grace sold 500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $201.48, for a total transaction of $100,740.00. Following the completion of the sale, the director now owns 4,515 shares in the company, valued at approximately $909,682.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Spencer S. Lee sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $197.46, for a total value of $197,460.00. Following the sale, the insider now owns 37,809 shares of the company’s stock, valued at approximately $7,465,765.14. The disclosure for this sale can be found here. Insiders sold 16,500 shares of company stock valued at $3,315,600 over the last 90 days. 4.90% of the stock is currently owned by insiders.
Chemed Corp. Profile
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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