Renaissance Technologies LLC Has $3.69 Million Stake in Chemed Corp. (CHE)
Renaissance Technologies LLC cut its stake in Chemed Corp. (NYSE:CHE) by 61.1% during the first quarter, Holdings Channel reports. The institutional investor owned 20,200 shares of the company’s stock after selling 31,700 shares during the period. Renaissance Technologies LLC’s holdings in Chemed Corp. were worth $3,690,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CHE. Citadel Advisors LLC boosted its stake in shares of Chemed Corp. by 195.4% in the first quarter. Citadel Advisors LLC now owns 4,558 shares of the company’s stock valued at $833,000 after buying an additional 3,015 shares in the last quarter. Ronald Blue & Co. LLC boosted its stake in shares of Chemed Corp. by 2.2% in the first quarter. Ronald Blue & Co. LLC now owns 2,690 shares of the company’s stock valued at $491,000 after buying an additional 58 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Chemed Corp. by 7.5% in the first quarter. Vanguard Group Inc. now owns 1,795,773 shares of the company’s stock valued at $328,070,000 after buying an additional 125,018 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Chemed Corp. by 11.4% in the first quarter. Glen Harbor Capital Management LLC now owns 624 shares of the company’s stock valued at $114,000 after buying an additional 64 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Chemed Corp. by 94.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,186 shares of the company’s stock valued at $582,000 after buying an additional 1,548 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.
Chemed Corp. (NYSE:CHE) traded down 0.92% during trading on Thursday, reaching $193.28. 1,708 shares of the company traded hands. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 47.95 and a beta of 1.14. The firm’s 50 day moving average price is $202.23 and its 200 day moving average price is $191.74. Chemed Corp. has a 12-month low of $130.05 and a 12-month high of $216.01.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $415.06 million for the quarter, compared to analyst estimates of $407.56 million. Chemed Corp. had a net margin of 4.16% and a return on equity of 26.18%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 EPS. Equities research analysts expect that Chemed Corp. will post $8.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a dividend of $0.28 per share. This is a positive change from Chemed Corp.’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, August 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. Chemed Corp.’s payout ratio is presently 26.07%.
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Several equities analysts recently issued reports on CHE shares. BidaskClub lowered shares of Chemed Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $208.00 target price on shares of Chemed Corp. in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $226.00 target price on the stock in a report on Friday, July 28th. Oppenheimer Holdings, Inc. boosted their target price on shares of Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, TheStreet lowered shares of Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Chemed Corp. currently has an average rating of “Hold” and an average price target of $218.33.
In related news, Director George J. Walsh III bought 1,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were purchased at an average price of $204.56 per share, with a total value of $204,560.00. Following the purchase, the director now owns 7,908 shares of the company’s stock, valued at approximately $1,617,660.48. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin J. Mcnamara sold 15,000 shares of Chemed Corp. stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total transaction of $3,017,400.00. Following the sale, the insider now directly owns 173,801 shares in the company, valued at approximately $34,961,809.16. The disclosure for this sale can be found here. Insiders own 5.32% of the company’s stock.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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