Chemed (NYSE:CHE) Stock, Quote.Headers.trade-ideas

Chemed

Chemed Corp operates subsidiaries in two main segments: VITAS and Roto-Rooter. The VITAS segment generates the majority of the firm's revenue. It provides hospice and palliative care services to patients with terminal illnesses through a network of physicians, registered nurses, home health aides, social workers, and volunteers. The vast majority of the segment's revenue is received from the Medicare and Medicaid reimbursement programs. The Roto-Rooter segment provides plumbing, drain cleaning, water restoration, and related services to residential and commercial customers. Chemed generates the majority of its revenue from business in the United States.

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Hims & Hers Health, Inc. Class A Common Stock

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Chemed Corporation (NYSE: CHE) is primed to grow in the upcoming quarters, backed by the promising prospects of the VITAS business. The company is set to capitalize on the positive trends of the global Hospice industry. Moreover, sound financial stability appears encouraging.

Should You Keep Chemed Stock in Your Portfolio Now?

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Chemed Corp

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Upward Revision to Guidance for 2024
VITAS 2024 revenue, prior to Medicare Cap, is estimated to increase 16.3% to 17.3% when compared to 2023. ADC is estimated to increase 13.3% to 14.4%. Full year adjusted EBITDA margin, prior to Medicare Cap, is estimated to be 19.3% to 19.7%. We are currently estimating $8.5 million in Medicare Cap billing limitations in calendar 2024. The cost of the retention program negatively impacted VITAS' 2023 full year adjusted EBITDA by 159 basis points.
Covenant Health is estimated to contribute approximately $30 million to $32 million of revenue to VITAS' full year revenue. There is no estimated Medicare Cap billing limitation expected related to Covenant Health. This translates into adjusted net income attributable to Covenant Health of $5.5 million to $6.0 million and adjusted EBITDA of $8.0 million to $8.5 million.
Roto-Rooter is forecasted to have a 4.0% to 5.0% revenue decline in 2024 compared to 2023. Roto-Rooter's adjusted EBITDA margin for 2024 is expected to be 26.5% to 27.0%.
Based on the above, full-year 2024 earnings per diluted share, excluding non-cash expense for stock options, tax benefits from stock option exercises, costs related to litigation and other discrete items, is estimated to be in the range of $23.55 to $23.80. This guidance assumes an effective corporate tax rate on adjusted earnings of 24.3% and a diluted share count of 15.25 million shares. Chemed's previously issued 2024 guidance range was $23.30 to $23.70. Chemed's 2023 reported adjusted earnings per diluted share was $20.30.

Guidance

Chemed Raises FY24 EPS From $23.30-$23.70 To $23.55-$23.80 Vs $23.21 Est.

Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) reported quarterly earnings of $5.47 per share which missed the analyst consensus estimate of $5.59 by 2.15 percent. This is a 34.07 percent increase over earnings of $4.08 per share from the same period last year. The company reported quarterly sales of $595.88 million which missed the analyst consensus estimate of $599.19 million by 0.55 percent. This is a 7.60 percent increase over sales of $553.82 million the same period last year.

Earnings Misses

Chemed Q2 Adj $5.47 Misses $5.59 Estimate, Sales $595.88M Miss $599.19M Estimate

Chemed's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) short percent of float has risen 11.16% since its last report. The company recently reported that it has 312 thousand shares sold short, which is 2.39% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Chemed Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721155515_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Chemed has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Chemed's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Chemed's peer group average for short interest as a percentage of float is 10.31%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Chemed?

Chemed Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/che#NYSE">CHE</a>)&nbsp;is primed to grow in the upcoming quarters, backed by the promising prospects of the VITAS business. The company is set to capitalize on the positive trends of the global Hospice industry. Moreover, sound financial stability appears encouraging. However, the uncertainty of the macroeconomic challenges and competitive pressure remain our concerns for Chemed&#39;s operations.
In the past year, this Zacks Rank #3 (Hold) stock has dropped 2.2% in value against the 11.5% rise of the industry&nbsp;and the 25% growth of the S&amp;P 500 composite.
The renowned hospice care provider has a market capitalization of $8.14 billion. Chemed projects an estimated earnings growth rate of 17.6% in the second quarter of 2024, driven by an 8.9% increase in revenues. In the trailing four quarters, the company delivered an average earnings surprise of 0.33%.
Let&#39;s delve deeper.
<h3>Upsides</h3>
VITAS&#39; Bright Growth Prospects: The segment&#39;s accelerated improvement post-pandemic has been encouraging. The increased growth in licensed healthcare professionals, strong admissions and corresponding growth in the patient census have returned VITAS to normalized operating conditions. In the first quarter of 2024, the year-over-year increase in business revenues was primarily driven by a 2.6 % rise in the geographically weighted average Medicare reimbursement rate and an 11.5% increase in days of care.
Furthermore, VITAS&#39; improving operating metrics are a direct result of its retention and hiring program launched in July 2022. Over the last six quarters, VITAS has generated quarterly sequential ADC (Average Daily Census) growth, increasing by 10.3% year over year in the first quarter. The business also increased its net bedside headcount by 173 licensed professionals, which outpaced its projections.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/79/71429.jpg?v=77839626" />
Image Source: Zacks Investment Research
Favorable Hospice Industry Trends:&nbsp; Within the Hospice segment, we believe that Chemed is well-poised to register growth, driven by the growing aging population. As people age, the prevalence of chronic and life-limiting illnesses, such as cancer, heart disease and dementia, also increases. This demographic trend drives the hospice market, creating a greater demand for end-of-life care and supportive services.
Further, growing long-term care services for chronic diseases worldwide, such as COPD and heart failure, are likely to boost companies&#39; growth within the industry. According to a report by Market Data Forecast, the global hospice market is estimated to witness a CAGR of 9.1% between 2023 and 2028.
Strong Solvency and Capital Structure:&nbsp;At the end of the first quarter, Chemed reported cash and cash equivalents of $313.4 million and no current and long-term debt on the balance sheet. This indicates a robust financial position, with the company holding substantial cash in case of an economic downturn.
During the quarter, Chemed also repurchased 50,000 shares of its stock for $32.3 million, which equates to a cost per share of $646.87. As of Mar 31, 2024, there was approximately $281.7 million of remaining share repurchase authorization under its plan. Moreover, the company has a solid track record of dividend payments, with a five-year annualized dividend growth being 5.87%.
<h3>Downsides</h3>
Macroeconomics Headwinds Weighing on Margins: Chemed has been grappling with macroeconomic challenges like the inflationary trend, increased logistics costs and higher employee-related expenses, which are affecting its margin performance. In the first quarter of 2024, the company&#39;s cost of products and services went up by 3.9% from the 2023 comparable period. Added to this, selling, general &amp; administration expenses rose by 15.8% in the same time frame.
Seasonality of the Business Weighs on the Stock: The seasonal dynamics of Chemed&#39;s VITAS operations can lead to a fluctuating financial performance, particularly in Florida, where most of the retiree Medicare recipients relocate during the winter months. This generally resulted in higher admissions and revenues concentrated only within Florida during that period. Moreover, Roto-Rooter&#39;s revenues and operating results are also impacted by significant weather patterns across the United States.
<h3>Estimate Trend</h3>
The Zacks Consensus Estimate for Chemed&#39;s 2024 earnings per share has remained constant at $23.20 in the past 30 days.
The Zacks Consensus Estimate for the company&#39;s 2024 revenues is pegged at $2.44 billion. This suggests a 7.95% rise from the year-ago reported number.
<h3>Key Picks</h3>
Some better-ranked stocks in the broader medical space are Hims &amp; Hers Health (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>), Haemonetics (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hae#NYSE">HAE</a>) and Globus Medical (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gmed#NYSE">GMED</a>).
Hims &amp; Hers Health&#39;s earnings are expected to surge 281.8% in 2024 compared with the industry&#39;s 18.8% growth. HIMS&#39; earnings surpassed estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. Its shares have surged 151% against the industry&#39;s 26% decline in the past year.
HIMS sports a Zacks Rank #1 (Strong Buy) at present.
Haemonetics, carrying a Zacks Rank #2 (Buy) at present, has an estimated fiscal 2025 earnings growth rate of 15.4% compared with the industry&#39;s 12.7%. Shares of HAE have increased 2.1% against the industry&#39;s 0.8% fall over the past year.
HAE&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 13.2%. In the last reported quarter, it delivered an earnings surprise of 2.3%.
Globus Medical, carrying a Zacks Rank #2 at present, has an estimated 2024 earnings growth rate of 21.6% compared with the industry&#39;s 11.1%. Shares of GMED have rallied 15.6% against the industry&#39;s 0.4% fall over the past year.
GMED&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 10.8%. In the last reported quarter, it delivered an earnings surprise of 30.9%.
<a href="https://www.zacks.com/stock/news/2302369/should-you-keep-chemed-che-stock-in-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2302369">To read this article on Zacks.com click here.</a>

Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) has outperformed the market over the past 15 years by 6.44% on an annualized basis producing an average annual return of 18.98%. Currently, Chemed has a market capitalization of $8.11 billion. 
Buying $1000 In CHE: If an investor had bought $1000 of CHE stock 15 years ago, it would be worth $13,515.05 today based on a price of $537.87 for CHE at the time of writing.
<h3>Chemed's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721062835_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $14,000 Today

Chemed's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) short percent of float has risen 15.52% since its last report. The company recently reported that it has 350 thousand shares sold short, which is 2.68% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.75 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Chemed Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718289911_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Chemed has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Chemed's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Chemed's peer group average for short interest as a percentage of float is 10.76%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(CHE) - Analyzing Chemed's Short Interest

RBC Capital analyst Ben Hendrix maintains Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) with a Outperform and lowers the price target from $712 to $697.

RBC Capital Maintains Outperform on Chemed, Lowers Price Target to $697

Chemed's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) short percent of float has fallen 4.97% since its last report. The company recently reported that it has 451 thousand shares sold short, which is 3.44% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.59 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Chemed Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714665619_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Chemed has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Chemed's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Chemed's peer group average for short interest as a percentage of float is 10.10%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Chemed's Recent Short Interest

WIIM

Chemed shares are trading lower after the company reported worse-than-expected Q1 financial results.

Guidance for 2024
Management reiterates its estimated full-year 2024 earnings per diluted share, excluding: non-cash expense for stock options, tax benefits from stock option exercises, costs related to litigation, and other discrete items, guidance range of $23.30 to $23.70. Management anticipates providing updated 2024 earnings guidance and related subsidiary operating metrics as part of the June 30, 2024 earnings press release.

Chemed Sees FY24 EPS $23.30-$23.70 Vs $23.52 Est.

Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) reported quarterly earnings of $5.20 per share which missed the analyst consensus estimate of $5.48 by 5.11 percent. This is a 7.88 percent increase over earnings of $4.82 per share from the same period last year. The company reported quarterly sales of $589.23 million which missed the analyst consensus estimate of $591.46 million by 0.38 percent. This is a 5.19 percent increase over sales of $560.16 million the same period last year.

Chemed Q1 Adj $5.20 Misses $5.48 Estimate, Sales $589.23M Miss $591.46M Estimate

VITAS Healthcare Corporation, a wholly-owned subsidiary of Chemed Corporation ("Chemed") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>), announced it entered into an agreement on March 12, 2024 to acquire all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc. d/b/a/ Covenant Care ("Covenant") for an aggregate purchase price of $85 million. Covenant's hospice operations span the panhandle of Florida and Alabama, specifically including the Tallahassee, Marianna, Fort Walton Beach, Panama City, Crestview and Pensacola markets in Florida, and the Dothan and Mobile/Daphne markets in Alabama.
The transaction is structured as an asset purchase and parties will seek to close the transaction in the second quarter, subject to certain regulatory and other approvals.
Nick Westfall, Chairman and CEO of VITAS Healthcare, stated, "Covenant Care has a 44-year history of providing high-quality, patient-centered care across communities in Florida and Alabama. Being a similar long-standing, mission-focused provider, VITAS is looking forward to building upon their legacy by following our key values of putting patients, families, and our team members first. We are excited to welcome the Covenant Care team members who decide to join our VITAS family as we collectively move forward with making a difference in all the communities we have the privilege of serving. I would also like to thank the Covenant Care executive team and Board of Directors whose vision for how this transaction will help to fulfill both organizations' commitment to our missions led us to this successful announcement today."

VITAS, A Wholly-Owned Subsidiary Of Chemed To Buy Hospice Assets Of Covenant Care In Florida And Alabama For An Aggregate Purchase Price Of $85M

Chemed's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) short percent of float has risen 3.02% since its last report. The company recently reported that it has 441 thousand shares sold short, which is 3.41% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.71 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Chemed Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709574322_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Chemed has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Chemed's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Chemed's peer group average for short interest as a percentage of float is 10.07%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

RBC Capital analyst Ben Hendrix maintains Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) with a Outperform and raises the price target from $604 to $712.

RBC Capital Maintains Outperform on Chemed, Raises Price Target to $712

Oppenheimer analyst Michael Wiederhorn maintains Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) with a Outperform and raises the price target from $625 to $650.

Oppenheimer Maintains Outperform on Chemed, Raises Price Target to $650

Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) reported quarterly earnings of $6.60 per share which beat the analyst consensus estimate of $6.25 by 5.6 percent. The company reported quarterly sales of $585.91 million which missed the analyst consensus estimate of $586.64 million by 0.12 percent. This is a 7.18 percent increase over sales of $546.65 million the same period last year.

Earnings Beats

Chemed Q4 2023 Adj EPS $6.60 Beats $6.25 Estimate, Sales $585.91M Miss $586.64M Estimate

Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) reported its Q4 earnings results on Tuesday, February 27, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Chemed beat estimated earnings by 6.0%, reporting an EPS of $6.6 versus an estimate of $6.25.
Revenue was up $39.26 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.42 which was followed by a 9.0% increase in the share price the next day.
Here's a look at Chemed's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.90</td>
<td>5.09</td>
<td>4.81</td>
<td>5.32</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>5.32</td>
<td>4.71</td>
<td>4.82</td>
<td>5.39</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>558.41M</td>
<td>562.54M</td>
<td>548.78M</td>
<td>546.60M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>564.53M</td>
<td>553.82M</td>
<td>560.16M</td>
<td>546.65M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Chemed <a href="https://www.benzinga.com/quote/CHE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Chemed: Q4 Earnings Insights

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Earnings Scheduled For February 27, 2024

Thursday marks the last chance for investors to receive the next dividend payout from Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>). 
<h3>What's Happening</h3>
The company announced on Friday that it would pay shareholders a quarterly dividend of 40 cents per share. On Friday, Chemed will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 40 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own CHE as of the end of Thursday's session are eligible to receive the 40 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 15, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on Chemed's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Chemed: Dividend Insights

Oppenheimer analyst Michael Wiederhorn maintains Chemed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) with a Outperform and raises the price target from $590 to $625.

Oppenheimer Maintains Outperform on Chemed, Raises Price Target to $625

Dividend Champion, Contender, And Challenger Highlights: Week Of May 26

Dividend Champion, Contender, And Challenger Highlights: Week Of June 16

The healthcare industry's growth is driven by expanding healthcare needs, fast-rising demand for care services, and the increasing demand for smart medical devices. Given this backdrop, investors could consider buying fundamentally strong healthcare stocks such as IDEXX Laboratories (IDXX), Veeva Systems (VEEV), and Chemed Corporation (CHE) given their solid profitability for consistent returns. Read on... The rapid utilization of advanced technologies and rising demand for personalized healthcare have significantly bolstered the healthcare industry. Moreover, the increasing geriatric population and chronic diseases have also contributed to the demand for healthcare.
Therefore, investors could consider buying highly profitable healthcare stocks IDEXX Laboratories, Inc. (<a href="https://stocknews.com/stock/IDXX/">IDXX</a>), Veeva Systems Inc. (<a href="https://stocknews.com/stock/VEEV/">VEEV</a>), and Chemed Corporation (<a href="https://stocknews.com/stock/CHE/">CHE</a>) for consistent returns.
The healthcare industry is characterized by a steady demand for medications and treatments, making it non-cyclical. Factors such as the rise in chronic diseases, an aging population, and efforts to enhance drug affordability worldwide are driving the need for effective drugs and therapies.
The increased emphasis on personalized and precision medicine to enhance treatment outcomes boosts demand for tailored treatments. The care services market is growing due to a growing elderly population, the rise in recurring and debilitating diseases, government initiatives, advancements in medical science, shifts in consumer preferences, and the need for assistance amongst patients with day-to-day activities.
Additionally, the adoption of technology-based care services such as teleconsultation apps, remote patient monitoring, and AI-driven devices are also driving market growth. The U.S. care services market is expected to reach $748.50 billion by 2030, growing at a <a href="https://www.grandviewresearch.com/industry-analysis/us-care-services-market">5.8% CAGR</a>.
Meanwhile, the medical device market is witnessing growth due to factors such as the increased adoption of minimally invasive procedures, the higher prevalence of sports and road accidents, and expanded market reach.
Innovation in the market is driven by technological advancements such as smart devices, AI in diagnostics, wearable medical tech, cybersecurity, and telehealth solutions, enhancing patient outcomes and accessibility. The U.S. medical device manufacturers market is projected to hit $360.10 billion by 2030, exhibiting a <a href="https://www.grandviewresearch.com/industry-analysis/us-medical-device-manufacturers-market">CAGR of 5.8%</a>.
Considering these factors, let's examine the fundamentals of the three healthcare stocks.
IDEXX Laboratories, Inc. (<a href="https://stocknews.com/stock/IDXX/">IDXX</a>)
IDXX develops, manufactures, and distributes products internationally for the companion animal veterinary, livestock and poultry, dairy, and water testing markets. The company operates through three segments: Companion Animal Group, Water Quality Products, and Livestock, Poultry and Dairy.
On June 4, 2024, IDXX announced the launch of the Catalyst Pancreatic Lipase Test, a single-slide solution for dogs and cats suspected of pancreatitis. By utilizing the Catalyst analyzers, the tests are streamlined for quicker diagnosis and improved patient results.
The test will initially launch in the U.S. and Canada this September, with plans for a global rollout to over 70,000 Catalyst installed bases starting in the fourth quarter of 2024.
IDXX's trailing-12-month asset turnover ratio of 1.21x is 199.6% higher than the industry average of 0.40x. Similarly, its trailing-12-month EBIT margin and levered FCF margin of 29.95% and 19.68% are considerably higher than the industry averages of 1.87% and 1.12%, respectively.
IDXX's revenue for the fiscal first quarter that ended March 31, 2024, increased 7.1% year-over-year to $964.10 million. Its <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> stood at $168.31 million, up 16.6% from the prior year quarter. In addition, its net income attributable to stockholders rose 10.1% from the year-ago quarter to $235.58 million. Also, its earnings per share grew 10.2% year-over-year to $2.81.
Analysts expect IDXX's revenue and EPS for the quarter that ended June 30, 2024, to increase 6.3% and 8.2% year-over-year to $1 billion and $2.89, respectively. The company surpassed Street EPS estimates in each of the trailing four quarters, which is impressive. Over the past nine months, the stock has gained 11.5%, closing the last trading session at $487.20.
IDXX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. It has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
IDXX has an A grade for Quality and a B for Sentiment. It is ranked #24 out of 133 stocks in the <a href="https://stocknews.com/category/medical-devices-equipment/">Medical - Devices &amp; Equipment</a> industry. <a href="https://stocknews.com/stock/IDXX/">Click here</a> to see IDXX's Growth, Value, Momentum, and Stability ratings.
Veeva Systems Inc. (<a href="https://stocknews.com/stock/VEEV/">VEEV</a>)
VEEV provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, Veeva Vault PromoMats, Veeva Vault Medical, Veeva Crossix, Veeva OpenData, Veeva Link, and Veeva Compass for the United States.
On June 19, 2024, VEEV partnered with Vita Global Sciences to modernize its clinical data management processes and improve collaboration with key trial stakeholders. With Veeva Vault EDC, the CRO established a foundation for study efficiency and faster study builds.
On June 6, 2024, VEEV announced that Hangzhou Tigermed Consulting Co., Ltd. selected<a href="https://www.veeva.com/products/vault-edc/"> </a>Veeva Vault EDC as its technology foundation for modern electronic data capture (EDC). With Vault EDC, Tigermed simplified complex data management for faster study builds and mid-study amendments with zero downtime.
VEEV's trailing-12-month asset turnover ratio of 0.44x is 10% higher than the industry average of 0.40x. Likewise, its trailing-12-month EBIT margin and levered FCF margin of 21.22% and 42.54% are considerably higher than the industry averages of 1.87% and 1.12%, respectively.
For the first quarter that ended April 30, 2024, VEEV's total revenues and non-GAAP gross profit stood at $650.35 million and $491.78 million, up 23.6% and 31.1% year-over-year, respectively. For the same quarter, its non-GAAP net income and net income per share increased 66.9% and 64.8% from the year-ago quarter to $246.95 million and $1.50, respectively.
Street expects VEEV's EPS and revenue for the quarter ending July 31, 2024, to increase 26.8% and 13.2% year-over-year to $1.53 and $668.07 million, respectively. The company surpassed consensus EPS and revenue estimates in each of the trailing four quarters. VEEV has declined 4.9% year-to-date, closing the last trading session at $183.01.
VEEV's strong fundamentals are reflected in its POWR Ratings. Its overall rating is B, equating to Buy in our proprietary rating system.
It has an A grade for Growth and Quality and a B for Sentiment. It is ranked #17 out of 60 stocks in the <a href="https://stocknews.com/category/medical-services/">Medical - Services</a> industry. Get VEEV's Value, Momentum, and Stability ratings<a href="https://stocknews.com/stock/VEEV/"> here</a>.
Chemed Corporation (<a href="https://stocknews.com/stock/CHE/">CHE</a>)
CHE provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers in the U.S. The company operates in VITAS and Roto-Rooter segments.
On April 17, 2024, CHE's VITAS Healthcare Corporation announced the completion of the purchase of all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc. d/b/a/ Covenant Care for $85 million. The transaction was structured as an asset purchase.
CHE's trailing-12-month asset turnover ratio of 1.45x is 259.9% higher than the industry average of 0.40x. Likewise, its trailing-12-month EBITDA margin and levered FCF margin of 17.43% and 10.99% are 199.1% and 878% higher than the industry averages of 5.83% and 1.12%, respectively.
CHE's service revenues and sales for the fiscal first quarter that ended March 31, 2024, amounted to $589.23 million, up 5.2% year-over-year. Its adjusted EBITDA rose 14.5% from the prior-year quarter to $114.62 million. Moreover, its adjusted net income stood at $79.83 million and $5.20 per share, up 23.3% and 21.5% from the prior-year quarter, respectively.
For the quarter that ended June 30, 2024, CHE's revenue and EPS are expected to increase 8.2% and 18.8% year-over-year to $599.20 million and $5.59, respectively. The stock has gained 3.9% over the past nine months to close the last trading session at $542.58.
CHE's POWR Ratings reflect its robust prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
CHE has an A grade for Quality and a B for Stability and Sentiment. Within the Medical - Services industry, it is ranked #10. <a href="https://stocknews.com/stock/CHE/">Click here</a> for the additional POWR Ratings of CHE (Growth, Value, and Momentum).
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
IDXX shares were trading at $484.08 per share on Monday morning, down $3.12 (-0.64%). Year-to-date, IDXX has declined -12.79%, versus a 15.20% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/idxx-veev-che-3-high-profitability-healthcare-stocks-to-buy-for-consistent-returns/>3 High-Profitability Healthcare Stocks to Buy for Consistent Returns</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High-Profitability Healthcare Stocks to Buy for Consistent Returns

TimesSquare Capital U.S. Mid Cap Growth Q2 2024 Commentary

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Notable earnings after Wednesday's close

Chemed Non-GAAP EPS of $5.47 misses by $0.12, revenue of $595.9M misses by $3.3M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Chemed (NYSE:<a href="https://investorplace.com/stock-quotes/che-stock-quote/">CHE</a>) just reported results for the second quarter of 2024.<ul><li>Chemed reported earnings per share of $5.47. This was below the analyst estimate for EPS of $5.59.</li><li>The company reported revenue of $595.88 million.</li><li>This was 0.55% worse than the analyst estimate for revenue of $599.19 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/che-stock-earnings-chemed-for-q2-of-2024/">CHE Stock Earnings: Chemed Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

CHE Stock Earnings: Chemed Misses EPS, Misses Revenue for Q2 2024

Oppenheimer analyst Michael Wiederhorn maintained a Buy rating on Chemed (CHE – Research Report) today and set a price target of $650.00. The compa...

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Chemed (CHE) Forecast

Chemed (NYSE:CHE) Stock, Quote.Headers.trade-ideas