Riverbridge Partners LLC Cuts Stake in Chemed Corporation $CHE

Riverbridge Partners LLC lessened its holdings in Chemed Corporation (NYSE:CHE) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,975 shares of the company’s stock after selling 5,029 shares during the quarter. Riverbridge Partners LLC owned 0.39% of Chemed worth $25,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHE. Norges Bank purchased a new stake in shares of Chemed during the second quarter valued at approximately $89,388,000. AQR Capital Management LLC grew its holdings in Chemed by 160.9% in the 2nd quarter. AQR Capital Management LLC now owns 201,041 shares of the company’s stock worth $97,893,000 after acquiring an additional 123,982 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Chemed by 69.3% in the second quarter. Acadian Asset Management LLC now owns 250,722 shares of the company’s stock valued at $122,056,000 after acquiring an additional 102,597 shares during the period. Woodline Partners LP raised its stake in shares of Chemed by 2,681.0% during the first quarter. Woodline Partners LP now owns 58,178 shares of the company’s stock valued at $35,798,000 after acquiring an additional 56,086 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Chemed during the first quarter worth about $26,059,000. Institutional investors own 95.85% of the company’s stock.

Chemed Stock Performance

Shares of NYSE CHE opened at $435.26 on Monday. The company has a 50 day simple moving average of $435.57 and a two-hundred day simple moving average of $458.29. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.43 and a beta of 0.46.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.39 by ($0.12). The company had revenue of $624.90 million during the quarter, compared to analysts’ expectations of $626.04 million. Chemed had a return on equity of 25.89% and a net margin of 11.02%.The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.64 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.40 annualized dividend and a yield of 0.6%. Chemed’s payout ratio is 12.69%.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $461.28, for a total transaction of $1,383,840.00. Following the completion of the sale, the chief executive officer owned 96,197 shares of the company’s stock, valued at $44,373,752.16. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group raised Chemed from a “hold” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a research report on Tuesday, September 2nd. Royal Bank Of Canada dropped their price target on Chemed from $589.00 to $572.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Bank of America reduced their price objective on shares of Chemed from $610.00 to $595.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Chemed from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $574.25.

Chemed Profile

Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.

The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.