Chemed Corporation $CHE Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its stake in shares of Chemed Corporation (NYSE:CHE) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 595 shares of the company’s stock after selling 40 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Chemed were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CHE. Wealth Enhancement Advisory Services LLC increased its stake in Chemed by 17.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,382 shares of the company’s stock valued at $732,000 after purchasing an additional 207 shares in the last quarter. Merit Financial Group LLC acquired a new position in Chemed during the 1st quarter valued at approximately $257,000. Hennion & Walsh Asset Management Inc. increased its stake in Chemed by 76.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,486 shares of the company’s stock valued at $914,000 after purchasing an additional 646 shares in the last quarter. Vest Financial LLC acquired a new position in Chemed during the 1st quarter valued at approximately $2,669,000. Finally, Impact Capital Partners LLC increased its stake in shares of Chemed by 2.7% in the first quarter. Impact Capital Partners LLC now owns 763 shares of the company’s stock worth $469,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Stock Performance

Shares of NYSE CHE opened at $442.75 on Friday. The company’s fifty day moving average price is $448.71 and its 200 day moving average price is $515.80. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The company has a market capitalization of $6.45 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.58 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The firm had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $650.60 million. During the same period last year, the company posted $5.47 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, equities analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. This is a boost from Chemed’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 11th. Chemed’s payout ratio is currently 12.34%.

Analyst Upgrades and Downgrades

CHE has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Chemed from a “hold” rating to a “buy” rating and increased their price objective for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Oppenheimer cut their price objective on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Royal Bank Of Canada cut their price objective on shares of Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Bank of America cut their price objective on shares of Chemed from $610.00 to $595.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Finally, Wall Street Zen lowered shares of Chemed from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $578.50.

Insider Activity

In related news, Director George J. Walsh III acquired 200 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were acquired at an average cost of $417.10 per share, with a total value of $83,420.00. Following the completion of the acquisition, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. This trade represents a 6.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $421.91, for a total transaction of $4,224,162.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,162 shares of company stock valued at $5,677,511. 3.29% of the stock is currently owned by corporate insiders.

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 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.