BNP Paribas Arbitrage SA reduced its stake in Chemed Co. (NYSE:CHE) by 20.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,411 shares of the company’s stock after selling 1,424 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Chemed were worth $1,476,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CHE. Sei Investments Co. boosted its stake in shares of Chemed by 56.0% in the fourth quarter. Sei Investments Co. now owns 26,386 shares of the company’s stock worth $6,413,000 after acquiring an additional 9,473 shares during the period. Jane Street Group LLC bought a new stake in Chemed during the 4th quarter valued at $1,208,000. Aperio Group LLC boosted its position in Chemed by 1.4% during the 4th quarter. Aperio Group LLC now owns 15,256 shares of the company’s stock valued at $3,708,000 after acquiring an additional 205 shares in the last quarter. Ellington Management Group LLC bought a new stake in Chemed during the 4th quarter valued at $219,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Chemed in the 4th quarter worth $1,094,000. 95.73% of the stock is currently owned by institutional investors.
In other Chemed news, EVP Spencer S. Lee sold 1,428 shares of the firm’s stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $299.90, for a total transaction of $428,257.20. Following the completion of the transaction, the executive vice president now directly owns 33,674 shares of the company’s stock, valued at approximately $10,098,832.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Naomi C. Dallob sold 200 shares of Chemed stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $327.13, for a total transaction of $65,426.00. Following the completion of the transaction, the vice president now directly owns 6,289 shares of the company’s stock, valued at $2,057,320.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,011 shares of company stock worth $23,921,474. 4.82% of the stock is owned by company insiders.
Chemed (NYSE:CHE) last announced its earnings results on Thursday, April 19th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.36. Chemed had a net margin of 6.67% and a return on equity of 33.05%. The business had revenue of $439.18 million during the quarter, compared to analysts’ expectations of $419.33 million. During the same period in the prior year, the company earned $1.82 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. analysts predict that Chemed Co. will post 10.96 EPS for the current year.
Chemed announced that its board has initiated a share buyback plan on Tuesday, March 6th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Thursday, May 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.35%. Chemed’s dividend payout ratio (DPR) is currently 20.90%.
CHE has been the subject of a number of research analyst reports. ValuEngine upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded Chemed from a “hold” rating to a “buy” rating and set a $339.00 price objective for the company in a research note on Tuesday, April 24th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $290.67.
Chemed Company Profile
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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