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Kevin J. Mcnamara Sells 2,000 Shares of Chemed Co. (NYSE:CHE) Stock

Defense World · Sep 16, 2022 04:33

Chemed Co. (NYSE:CHE – Get Rating) CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total transaction of $948,260.00. Following the sale, the chief executive officer now directly owns 124,235 shares in the company, valued at approximately $58,903,540.55. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Chemed Trading Up 1.1 %

Shares of CHE opened at $481.44 on Friday. The firm's 50-day moving average price is $485.72 and its 200-day moving average price is $486.16. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.56 and a beta of 0.51. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.16. Chemed Co. has a 1-year low of $403.00 and a 1-year high of $539.87.

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Chemed (NYSE:CHE – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.06. Chemed had a net margin of 12.95% and a return on equity of 44.64%. The company had revenue of $531.29 million during the quarter, compared to analysts' expectations of $538.07 million. During the same period last year, the company posted $4.60 EPS. Chemed's revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that Chemed Co. will post 18.72 EPS for the current year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were given a dividend of $0.38 per share. This is a boost from Chemed's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, August 12th. Chemed's dividend payout ratio (DPR) is 8.45%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their target price on shares of Chemed from $592.00 to $541.00 and set an "outperform" rating on the stock in a research note on Monday, August 1st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHE. Victory Capital Management Inc. lifted its position in Chemed by 594.3% during the 2nd quarter. Victory Capital Management Inc. now owns 198,594 shares of the company's stock valued at $93,218,000 after acquiring an additional 169,989 shares during the period. Invesco Ltd. lifted its position in Chemed by 144.0% during the 1st quarter. Invesco Ltd. now owns 184,312 shares of the company's stock valued at $93,363,000 after acquiring an additional 108,759 shares during the period. Eagle Asset Management Inc. purchased a new position in Chemed during the 2nd quarter valued at about $44,303,000. William Blair Investment Management LLC raised its holdings in Chemed by 22.5% in the fourth quarter. William Blair Investment Management LLC now owns 418,761 shares of the company's stock worth $221,541,000 after buying an additional 76,904 shares during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in Chemed in the first quarter worth about $104,000. 90.42% of the stock is owned by hedge funds and other institutional investors.

About Chemed

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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 two segments, VITAS and Roto-Rooter. 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.