The world of finance is constantly changing, with investors and analysts always on the lookout for the next big move. One such move was recently made by Oppenheimer & Co. Inc., which has reduced its shares in Chemed Co. (NYSE:CHE) by 2.9% during the fourth quarter, as per their recent SEC filing.
Even with this reduction, Oppenheimer & Co. Inc. still owned a valuable 14,507 shares of Chemed’s stock worth $7,405,000 at the time of filing.
Chemed recently released their quarterly earnings data on February 24th and reported impressive figures. The company’s revenue for Q4 2020 was valued at $546.65 million, indicating a growth of 1% compared to the same period last year.
Chemed also surpassed analyst estimates regarding earnings per share (EPS), posting $5.39 as compared to $5.30 expected by experts.
Despite this promising news concerning the company’s financial performance, there were some notable insider sales that occurred following the release of Chemed’s earnings report.
For instance, CFO David Patrick Williams sold 4,000 shares of stock on March 20th for an average price of $523.25 per share – totaling $2,093,000 – while CEO Kevin J Mcnamara sold 3,000 shares on March 28th at an average cost of $526.27 per share worth approximately $1,578,810 in total.
These moves do not necessarily indicate negative trends within Chemed Co., however; rather they could be viewed as liquidity-seeking strategies by the insiders involved.
As we approach mid-yearly financial reports from companies like Chemed Co., investors and analysts alike need to remain vigilant to changes within this ever-evolving industry – both positive and negative – in order to make informed decisions about their investments and remain ahead of market trends moving forward.
Chemed Co. Attracts Hedge Funds and Institutional Investors with Promising Equity Performance
Chemed Co. is riding high on a wave of investment with many hedge funds and institutional investors buying and selling shares in the company. The latest to buy a stake is Centiva Capital LP, valued at $220,000 during Q3. Other proponents include Hollencrest Capital Management with a new stake in Chesmed worth $78,000 during the fourth quarter and Crossmark Global Holdings Inc., which grew its stake by 4.6% to 1,567 shares worth $800,000 last quarter. Meanwhile, Ronald Blue Trust Inc.’s stake in Chemed surged by 2.5% to 1,548 shares valued at $676,000 during Q4 as Amalgamated Bank now owns 11,190 shares of the company’s stock after acquiring an additional 137 shares for $4.9m during Q3. Institutional investors now own 91.12% of Chemed’s stock.
The New York Stock Exchange (NYSE) CHE opened at $544.71 this Friday after having reached both a 52-week high of $570.17 and low of $430.16 respectively amid its volatile yet promising equity performance over the year thus far fuelled by multiple investors’ interests.
Chemed has a market capitalization of approximately $8.18bn with a PE ratio of 34.28%. The price-to-earnings-growth ratio is stable at around 3:04 along with its beta value of 0.54 highlighting the decreasing volatility in comparison to other companies within the same sector.
Some notable insiders such Chairman and CEO Kevin J McNamara have sold off some stocks recently worth almost $1,578,810 according to recent SEC filings –McNamara now holds approxiametely118,613 greater than before merely about two months ago following this sale.
Analysts have projected continuous growth for Chemed over the years particularly among whom include Oppenheimer’s recent statement suggesting an increase in target price is expected, up from $580.00 to $610.00 in a research note issued on April 28th improved by Royal Bank of Canada also bumping up its target price from $587.00 to match Oppenheimer’s – finally, StockNews.com issued a ‘buy’ rating for the company.
Chemed Co. disclosed a quarterly dividend on Friday, March 17th where investors received a sum of $.38 per share with the ex-dividend record set for February 24th amounting to an annualized yield of roughly .28%. Chemed’s dividend payout ratio (DPR) currently stands at 9.57% amongst competitors in the sector. Overall, despite fluctuating market changes over time, Chemed Co.’s steady progress foretells its promising future as well as its ability to maintain diversification to continue enticing and retaining its shareholders at what seems like early resilient stages for sustainable growth.
