Bank of Nova Scotia Has $8.25 Million Position in Chemed Corporation $CHE

Bank of Nova Scotia boosted its holdings in shares of Chemed Corporation (NYSE:CHE) by 94.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,844 shares of the company’s stock after buying an additional 10,622 shares during the period. Bank of Nova Scotia’s holdings in Chemed were worth $8,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Monetary Solutions Ltd bought a new position in shares of Chemed in the fourth quarter worth about $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Chemed in the 4th quarter worth approximately $26,000. BOK Financial Private Wealth Inc. bought a new position in shares of Chemed during the fourth quarter valued at $27,000. Global Retirement Partners LLC boosted its position in Chemed by 200.0% in the fourth quarter. Global Retirement Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 58 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in Chemed by 800.0% in the 4th quarter. Rothschild Investment LLC now owns 108 shares of the company’s stock valued at $46,000 after purchasing an additional 96 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHE. Zacks Research raised shares of Chemed from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Chemed from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings raised Chemed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Bank of America increased their price objective on Chemed from $450.00 to $510.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada lifted their target price on Chemed from $422.00 to $436.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Chemed currently has a consensus rating of “Hold” and an average price target of $480.25.

Insiders Place Their Bets

In other news, Director Andrea R. Lindell sold 1,347 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $447.33, for a total transaction of $602,553.51. Following the completion of the transaction, the director owned 4,578 shares of the company’s stock, valued at approximately $2,047,876.74. The trade was a 22.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $421.13, for a total transaction of $842,260.00. Following the sale, the chief executive officer directly owned 90,219 shares in the company, valued at $37,993,927.47. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.33% of the company’s stock.

Chemed Price Performance

NYSE:CHE opened at $510.28 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $458.59 and its two-hundred day moving average price is $433.61. Chemed Corporation has a 12-month low of $365.20 and a 12-month high of $517.74. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.88 and a beta of 0.52.

Chemed (NYSE:CHE) last announced its earnings results on Thursday, April 23rd. The company reported $5.65 EPS for the quarter, topping the consensus estimate of $5.30 by $0.35. Chemed had a net margin of 10.23% and a return on equity of 27.18%. The business had revenue of $657.51 million during the quarter, compared to the consensus estimate of $659.22 million. During the same quarter in the previous year, the firm posted $5.63 EPS. Chemed’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Chemed Corporation will post 22.67 earnings per share for the current year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. Chemed’s dividend payout ratio (DPR) is currently 13.08%.

Chemed Company Profile

Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.

The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.