Atlantic Union Bankshares Corp Trims Stake in Chemed Corporation $CHE

Atlantic Union Bankshares Corp cut its stake in Chemed Corporation (NYSE:CHE) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,798 shares of the company’s stock after selling 346 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Chemed were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CHE. First Horizon Advisors Inc. increased its holdings in shares of Chemed by 16.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 202 shares of the company’s stock valued at $99,000 after purchasing an additional 29 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in Chemed by 46.5% in the second quarter. Sunburst Financial Group LLC now owns 671 shares of the company’s stock valued at $327,000 after buying an additional 213 shares in the last quarter. Lord & Richards Wealth Management LLC increased its holdings in Chemed by 12.6% in the second quarter. Lord & Richards Wealth Management LLC now owns 2,289 shares of the company’s stock valued at $1,115,000 after buying an additional 257 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of Chemed in the second quarter worth about $28,000. Finally, AdvisorShares Investments LLC boosted its stake in shares of Chemed by 10.2% during the 2nd quarter. AdvisorShares Investments LLC now owns 959 shares of the company’s stock worth $467,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kevin J. Mcnamara sold 3,000 shares of Chemed stock in a transaction that occurred on 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 owned 96,197 shares in the company, valued at approximately $44,373,752.16. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick P. Grace sold 150 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total value of $69,508.50. Following the transaction, the director directly owned 3,397 shares in the company, valued at $1,574,135.83. This trade represents a 4.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.29% of the company’s stock.

Wall Street Analyst Weigh In

CHE has been the subject of several recent analyst reports. Royal Bank Of Canada cut their price target 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 price objective on Chemed from $610.00 to $595.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Oppenheimer reduced 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 report on Wednesday, October 8th. Finally, Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and boosted their price target for the stock from $490.00 to $550.00 in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $578.50.

Chemed Stock Up 0.7%

Chemed stock opened at $433.58 on Friday. Chemed Corporation has a 52-week low of $408.42 and a 52-week high of $623.60. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.69 and a beta of 0.43. The company has a fifty day simple moving average of $445.94 and a 200-day simple moving average of $487.86.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.39 by ($0.12). Chemed had a return on equity of 25.89% and a net margin of 11.02%.The business had revenue of $624.90 million during the quarter, compared to analysts’ expectations of $626.04 million. During the same period in the prior year, the business posted $5.64 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, research analysts anticipate that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Company 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.