Twinbeech Capital LP Invests $2.51 Million in Chemed Co. (NYSE:CHE)

Twinbeech Capital LP acquired a new stake in shares of Chemed Co. (NYSE:CHE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,730 shares of the company’s stock, valued at approximately $2,506,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Chemed in the 4th quarter valued at about $95,872,000. Freestone Grove Partners LP bought a new position in shares of Chemed in the fourth quarter worth approximately $61,664,000. Point72 Asset Management L.P. bought a new position in shares of Chemed in the fourth quarter worth approximately $54,587,000. Raymond James Financial Inc. purchased a new stake in Chemed in the fourth quarter valued at approximately $42,023,000. Finally, Citadel Advisors LLC lifted its position in Chemed by 197.4% during the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company’s stock valued at $40,870,000 after purchasing an additional 51,206 shares during the last quarter. Institutional investors own 95.85% of the company’s stock.

Chemed Trading Up 0.4%

Shares of Chemed stock opened at $580.49 on Wednesday. The firm has a market capitalization of $8.49 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $623.61. The business’s 50-day moving average price is $585.81 and its 200-day moving average price is $564.80.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.04. The business had revenue of $646.94 million for the quarter, compared to analysts’ expectations of $641.78 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $5.20 earnings per share. As a group, analysts predict that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date is Thursday, May 29th. Chemed’s dividend payout ratio is presently 9.74%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $593.67, for a total value of $1,187,340.00. Following the transaction, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. The trade was a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $577.86, for a total value of $866,790.00. Following the sale, the executive vice president now directly owns 16,127 shares of the company’s stock, valued at approximately $9,319,148.22. This trade represents a 8.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $4,401,120 over the last three months. Company insiders own 3.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CHE shares. Royal Bank of Canada increased their price target on shares of Chemed from $667.00 to $674.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

Chemed 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.