Should You Consider Adding Chemed Corporation (CHE) to Your Portfolio?

TimesSquare Capital Management, an equity investment management company, released its “U.S. FOCUS Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -2.04% (gross) and -2.29% (net) compared to -5.22% for the Russell Midcap Growth Index. This quarter’s best-performing small-to-mid-cap growth stocks have lower betas or higher returns on equity. Those with exorbitant prices (as measured by price/earnings) or a lack of near-term earnings fell out of favor. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. FOCUS Growth Strategy highlighted stocks like Chemed Corporation (NYSE:CHE) in the third quarter 2023 investor letter. Headquartered in Cincinnati, Ohio, Chemed Corporation (NYSE:CHE) offers hospice and palliative care services. On December 22, 2023, Chemed Corporation (NYSE:CHE) stock closed at $593.00 per share. One-month return of Chemed Corporation (NYSE:CHE) was 2.26%, and its shares gained 14.88% of their value over the last 52 weeks. Chemed Corporation (NYSE:CHE) has a market capitalization of $8.899 billion.

TimesSquare Capital U.S. FOCUS Growth Strategy made the following comment about Chemed Corporation (NYSE:CHE) in its Q3 2023 investor letter:

“Chemed Corporation (NYSE:CHE) operates in two segments. VITAS provides hospice and palliative care services. Roto-Rooter offers plumbing, drain cleaning, and other related services. While VITAS continues to improve, Roto-Rooter experienced softening demand and that led to a reduction in forward guidance as well as a -4% decline in its shares. We added to the position on this pullback.”

A nurse providing hospice care in a home setting, reassuring a patient’s family members.

Chemed Corporation (NYSE:CHE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Chemed Corporation (NYSE:CHE) at the end of third quarter which was 25 in the previous quarter.

We discussed Chemed Corporation (NYSE:CHE) in another article and shared the list of biggest plumbing supply companies in the world. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.