Qube Research & Technologies Ltd bought a new stake in shares of Chemed Co. (NYSE:CHE) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 639 shares of the company’s stock, valued at approximately $231,000.
A number of other large investors also recently made changes to their positions in the business. TimesSquare Capital Management LLC acquired a new stake in shares of Chemed during the first quarter worth $54,316,000. AJO LP boosted its holdings in shares of Chemed by 141.7% during the first quarter. AJO LP now owns 145,216 shares of the company’s stock worth $46,479,000 after purchasing an additional 85,132 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Chemed during the first quarter worth $70,000. FMR LLC boosted its holdings in shares of Chemed by 27.0% during the first quarter. FMR LLC now owns 311,951 shares of the company’s stock worth $99,847,000 after purchasing an additional 66,276 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Chemed by 489.0% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 66,391 shares of the company’s stock worth $21,250,000 after purchasing an additional 55,120 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
Shares of CHE opened at $435.69 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $6.90 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 2.95 and a beta of 1.14. The stock’s fifty day simple moving average is $396.70 and its 200 day simple moving average is $345.80. Chemed Co. has a twelve month low of $260.03 and a twelve month high of $441.48.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a $0.32 dividend. This is a positive change from Chemed’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, August 9th. Chemed’s dividend payout ratio (DPR) is 10.73%.
Several equities research analysts have recently issued reports on CHE shares. Royal Bank of Canada raised their price objective on Chemed to $405.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Zacks Investment Research cut Chemed from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. ValuEngine upgraded Chemed from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Finally, Oppenheimer raised their price objective on Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $383.75.
In related news, Director Donald E. Saunders sold 400 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $432.87, for a total value of $173,148.00. Following the transaction, the director now directly owns 7,408 shares of the company’s stock, valued at approximately $3,206,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George J. Walsh III bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $412.86 per share, for a total transaction of $206,430.00. Following the completion of the transaction, the director now directly owns 4,520 shares in the company, valued at approximately $1,866,127.20. The disclosure for this purchase can be found here. Insiders sold a total of 38,902 shares of company stock worth $16,589,364 over the last ninety days. Corporate insiders own 3.96% of the company’s stock.
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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
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