Schwartz Investment Counsel Inc. Raises Stock Holdings in Chemed Corporation $CHE

Schwartz Investment Counsel Inc. grew its stake in Chemed Corporation (NYSE:CHE) by 11.3% during the 2nd quarter, Holdings Channel reports. The fund owned 139,804 shares of the company’s stock after acquiring an additional 14,184 shares during the period. Chemed comprises about 2.2% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 11th biggest position. Schwartz Investment Counsel Inc.’s holdings in Chemed were worth $68,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Chemed in the first quarter valued at $29,000. HM Payson & Co. purchased a new stake in shares of Chemed in the first quarter valued at $30,000. SVB Wealth LLC purchased a new stake in shares of Chemed in the first quarter valued at $30,000. WPG Advisers LLC purchased a new stake in shares of Chemed in the first quarter valued at $32,000. Finally, Geneos Wealth Management Inc. increased its stake in Chemed by 330.4% in the first quarter. Geneos Wealth Management Inc. now owns 99 shares of the company’s stock valued at $61,000 after purchasing an additional 76 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada dropped their target price on Chemed from $640.00 to $589.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Bank of America dropped their target price on Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Oppenheimer dropped their target price on Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded Chemed from a “hold” rating to a “buy” rating and upped their target price for the company from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $578.50.

Chemed Price Performance

Shares of NYSE:CHE opened at $444.88 on Tuesday. The firm has a market capitalization of $6.48 billion, a PE ratio of 22.87, a P/E/G ratio of 2.56 and a beta of 0.43. The business has a 50-day moving average of $449.12 and a two-hundred day moving average of $501.78. Chemed Corporation has a 12 month low of $408.42 and a 12 month high of $623.60.

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

Chemed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were paid a dividend of $0.60 per share. This is a boost from Chemed’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. Chemed’s payout ratio is currently 12.34%.

Insider Transactions at Chemed

In other news, 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 value of $69,508.50. Following the completion of the sale, the director owned 3,397 shares in the company, valued at approximately $1,574,135.83. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,162 shares of company stock valued at $5,677,511. Insiders own 3.29% of the company’s stock.

About Chemed

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.