Norges Bank Invests $89.39 Million in Chemed Corporation $CHE

Norges Bank purchased a new position in Chemed Corporation (NYSE:CHE) during the second quarter, Holdings Channel.com reports. The firm purchased 183,574 shares of the company’s stock, valued at approximately $89,388,000.

A number of other hedge funds also recently modified their holdings of the business. Cim LLC grew its stake in Chemed by 1.0% during the 1st quarter. Cim LLC now owns 2,029 shares of the company’s stock valued at $1,248,000 after acquiring an additional 21 shares in the last quarter. Cynosure Group LLC grew its position in Chemed by 4.3% during the first quarter. Cynosure Group LLC now owns 581 shares of the company’s stock valued at $358,000 after purchasing an additional 24 shares in the last quarter. Atria Investments Inc increased its stake in Chemed by 0.6% in the 2nd quarter. Atria Investments Inc now owns 4,259 shares of the company’s stock valued at $2,074,000 after buying an additional 25 shares during the period. Cetera Investment Advisers lifted its position in Chemed by 1.5% in the 2nd quarter. Cetera Investment Advisers now owns 1,740 shares of the company’s stock worth $847,000 after buying an additional 25 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Chemed by 16.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 202 shares of the company’s stock valued at $99,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Price Performance

NYSE:CHE opened at $424.50 on Friday. Chemed Corporation has a one year low of $408.42 and a one year high of $623.60. The company has a fifty day moving average price of $438.72 and a 200 day moving average price of $470.89. The stock has a market cap of $6.01 billion, a P/E ratio of 22.45, a PEG ratio of 2.41 and a beta of 0.46.

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

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, November 17th. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. Chemed’s payout ratio is currently 12.69%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $437.55, for a total value of $875,100.00. Following the sale, the chief executive officer owned 94,197 shares of the company’s stock, valued at $41,215,897.35. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Patrick P. Grace sold 150 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total transaction of $69,508.50. Following the completion of the transaction, the director directly owned 3,397 shares of the company’s stock, valued at $1,574,135.83. This trade represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,150 shares of company stock worth $2,328,449 in the last three months. Insiders own 3.29% of the company’s stock.

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.