Chemed (CHE) Posts Earnings Results, Beats Expectations By $0.08 EPS

Chemed (NYSE:CHE) announced its quarterly earnings results on Wednesday. The company reported $3.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.08, Bloomberg Earnings reports. The business had revenue of $457.51 million during the quarter, compared to the consensus estimate of $460.50 million. Chemed had a net margin of 11.73% and a return on equity of 35.13%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.32 EPS. Chemed updated its FY 2019 guidance to $12.65-12.85 EPS and its FY19 guidance to $12.65-12.85 EPS.

Chemed stock opened at $316.49 on Thursday. Chemed has a fifty-two week low of $255.05 and a fifty-two week high of $335.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 1.11. The company has a market capitalization of $5.07 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.80 and a beta of 1.20.

In related news, insider Nicholas Michael Westfall sold 5,709 shares of Chemed stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $301.75, for a total value of $1,722,690.75. Following the completion of the sale, the insider now owns 16,052 shares in the company, valued at approximately $4,843,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Spencer S. Lee sold 669 shares of Chemed stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $314.76, for a total transaction of $210,574.44. Following the completion of the sale, the insider now owns 30,589 shares of the company’s stock, valued at approximately $9,628,193.64. The disclosure for this sale can be found here. 4.82% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC boosted its position in Chemed by 17.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 132,303 shares of the company’s stock valued at $42,281,000 after buying an additional 19,963 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Chemed in the 3rd quarter valued at approximately $351,000. First Hawaiian Bank boosted its position in Chemed by 21.3% in the 4th quarter. First Hawaiian Bank now owns 290 shares of the company’s stock valued at $82,000 after buying an additional 51 shares during the period. Fisher Asset Management LLC boosted its position in Chemed by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 477,261 shares of the company’s stock valued at $135,198,000 after buying an additional 1,961 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Chemed by 4.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,661 shares of the company’s stock valued at $8,520,000 after buying an additional 1,169 shares during the period. 87.51% of the stock is owned by institutional investors.

Separately, Zacks Investment Research restated a “buy” rating and set a $342.00 price target on shares of Chemed in a report on Monday, November 12th.

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About Chemed

Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.

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Earnings History for Chemed (NYSE:CHE)

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