Chemed Corporation $CHE Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in shares of Chemed Corporation (NYSE:CHE) by 54.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,929 shares of the company’s stock after purchasing an additional 2,792 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Chemed worth $3,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CHE. Jump Financial LLC acquired a new stake in shares of Chemed during the first quarter worth $2,777,000. Commerce Bank boosted its stake in Chemed by 246.6% in the 1st quarter. Commerce Bank now owns 5,216 shares of the company’s stock worth $3,210,000 after buying an additional 3,711 shares during the last quarter. Synovus Financial Corp grew its holdings in Chemed by 47.9% in the 1st quarter. Synovus Financial Corp now owns 1,827 shares of the company’s stock valued at $1,124,000 after buying an additional 592 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Chemed during the 2nd quarter valued at about $342,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Chemed during the 1st quarter worth about $891,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Patrick P. Grace sold 150 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the sale, the director owned 3,397 shares in the company, valued at approximately $1,574,135.83. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $461.28, for a total transaction of $1,383,840.00. Following the transaction, the chief executive officer directly owned 96,197 shares in the company, valued at $44,373,752.16. The trade was a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.29% of the company’s stock.

Analyst Upgrades and Downgrades

CHE has been the subject of several research analyst reports. Zacks Research raised shares of Chemed from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Bank of America dropped their price objective on Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Royal Bank Of Canada reduced their target price on Chemed from $589.00 to $572.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group upgraded Chemed from a “hold” rating to a “buy” rating and upped their price target for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Finally, Oppenheimer reduced their price target on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $574.25.

Chemed Price Performance

Shares of CHE stock opened at $447.18 on Thursday. The company’s fifty day moving average price is $444.87 and its two-hundred day moving average price is $485.34. The firm has a market capitalization of $6.33 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.69 and a beta of 0.43. Chemed Corporation has a 12 month low of $408.42 and a 12 month high of $623.60.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 28th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.12). The business had revenue of $624.90 million for 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 firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.64 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, sell-side analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.40 annualized dividend and a yield of 0.5%. Chemed’s dividend payout ratio is currently 12.69%.

Chemed 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.