Bayforest Capital Ltd Makes New Investment in Chemed Corporation $CHE

Bayforest Capital Ltd acquired a new position in shares of Chemed Corporation (NYSE:CHE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,001 shares of the company’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Chemed by 2.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 597,175 shares of the company’s stock worth $367,454,000 after buying an additional 15,041 shares during the period. Neuberger Berman Group LLC grew its position in Chemed by 3.9% during the 1st quarter. Neuberger Berman Group LLC now owns 521,212 shares of the company’s stock worth $320,712,000 after acquiring an additional 19,650 shares during the last quarter. Boston Trust Walden Corp boosted its position in Chemed by 1.7% in the 1st quarter. Boston Trust Walden Corp now owns 246,351 shares of the company’s stock valued at $151,585,000 after buying an additional 4,179 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Chemed by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 218,675 shares of the company’s stock valued at $134,547,000 after buying an additional 19,421 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Chemed by 3.4% in the 1st quarter. Northern Trust Corp now owns 215,523 shares of the company’s stock valued at $132,616,000 after buying an additional 6,988 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Walsh III purchased 200 shares of the business’s stock in a transaction on Monday, August 4th. The shares were bought at an average price of $417.10 per share, with a total value of $83,420.00. Following the purchase, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank Of Canada decreased their price objective on Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Bank of America dropped their price objective on Chemed from $708.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, June 30th. Wall Street Zen downgraded Chemed from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Oppenheimer dropped their price objective on Chemed from $650.00 to $580.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, Jefferies Financial Group raised Chemed from a “hold” rating to a “buy” rating and raised their price objective for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $592.25.

Chemed Stock Performance

Chemed stock opened at $462.94 on Wednesday. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The stock has a market capitalization of $6.74 billion, a P/E ratio of 23.80, a PEG ratio of 2.56 and a beta of 0.46. The stock has a 50-day simple moving average of $453.06 and a 200 day simple moving average of $532.95.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. During the same quarter last year, the business earned $5.47 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Research analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were paid a $0.60 dividend. This is a positive change from Chemed’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Chemed’s payout ratio is presently 12.34%.

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.