Healthcare of Ontario Pension Plan Trust Fund Raises Stake in Chemed Co. (NYSE:CHE)

Posted by on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Chemed Co. (NYSE:CHE – Get Rating) by 105.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,130 shares of the company’s stock after purchasing an additional 581 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Chemed were worth $493,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHE. Prudential PLC boosted its holdings in shares of Chemed by 95.4% in the third quarter. Prudential PLC now owns 4,125 shares of the company’s stock valued at $1,801,000 after acquiring an additional 2,014 shares in the last quarter. Pictet Asset Management SA raised its position in Chemed by 3.1% during the third quarter. Pictet Asset Management SA now owns 100,506 shares of the company’s stock worth $43,385,000 after acquiring an additional 3,054 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Chemed by 0.8% during the third quarter. Oppenheimer & Co. Inc. now owns 14,943 shares of the company’s stock worth $6,523,000 after acquiring an additional 115 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Chemed by 1.5% during the third quarter. Envestnet Asset Management Inc. now owns 50,960 shares of the company’s stock worth $22,247,000 after buying an additional 748 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of Chemed by 308.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 6,026 shares of the company’s stock worth $2,631,000 after buying an additional 4,551 shares in the last quarter. 91.12% of the stock is owned by hedge funds and other institutional investors.

Chemed Stock Performance

Shares of CHE opened at $521.58 on Wednesday. The firm has a 50-day moving average price of $505.84 and a 200 day moving average price of $488.52. The firm has a market capitalization of $7.76 billion, a PE ratio of 31.55, a P/E/G ratio of 3.75 and a beta of 0.53. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. Chemed Co. has a 52-week low of $430.16 and a 52-week high of $539.13.

Chemed (NYSE:CHE – Get Rating) last issued its quarterly earnings results on Friday, February 24th. The company reported $5.39 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.09. Chemed had a net margin of 11.69% and a return on equity of 41.54%. The company had revenue of $546.65 million during the quarter, compared to the consensus estimate of $546.60 million. During the same period in the prior year, the company earned $5.25 EPS. Chemed’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Chemed Co. will post 20.33 earnings per share for the current fiscal year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Monday, February 27th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, February 24th. Chemed’s payout ratio is 9.20%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CHE shares. Royal Bank of Canada boosted their target price on shares of Chemed from $545.00 to $587.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com cut shares of Chemed from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 9th.

Chemed Company Profile

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Chemed Corp. engages in the provision of healthcare and maintenance services. It operates through the VITAS and Roto-Rooter segments. The VITAS segment offers hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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