The Manufacturers Life Insurance Company trimmed its stake in shares of Chemed Corp. (NYSE:CHE) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,039 shares of the company’s stock after selling 441 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Chemed Corp. worth $2,462,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in Chemed Corp. in the second quarter valued at approximately $120,000. Pacad Investment Ltd. lifted its position in shares of Chemed Corp. by 250.0% in the second quarter. Pacad Investment Ltd. now owns 700 shares of the company’s stock valued at $143,000 after acquiring an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chemed Corp. by 12.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 731 shares of the company’s stock valued at $150,000 after acquiring an additional 83 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Chemed Corp. in the second quarter valued at approximately $209,000. Finally, World Asset Management Inc purchased a new position in shares of Chemed Corp. in the second quarter valued at approximately $216,000. 97.24% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Chemed Corp. from a “hold” rating to a “buy” rating and set a $251.00 price objective on the stock in a research report on Thursday. TheStreet upgraded Chemed Corp. from a “c+” rating to an “a-” rating in a research report on Friday, October 27th. Royal Bank Of Canada lifted their price objective on Chemed Corp. to $232.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Chemed Corp. in a research note on Friday, October 27th. Finally, Oppenheimer Holdings, Inc. lifted their price objective on Chemed Corp. from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $236.00.
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Shares of Chemed Corp. (NYSE CHE) opened at $235.01 on Friday. The firm has a market capitalization of $3,752.17, a PE ratio of 28.94, a PEG ratio of 4.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.48.
Chemed Corp. (NYSE:CHE) last posted its earnings results on Thursday, October 26th. The company reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. Chemed Corp. had a return on equity of 27.69% and a net margin of 4.62%. The business had revenue of $417.40 million during the quarter, compared to the consensus estimate of $414.34 million. During the same period in the previous year, the business earned $1.73 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. analysts predict that Chemed Corp. will post 4.73 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 10th. Chemed Corp.’s dividend payout ratio is presently 24.89%.
In related news, CEO Kevin J. Mcnamara sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $223.42, for a total value of $2,234,200.00. Following the sale, the chief executive officer now owns 170,016 shares in the company, valued at approximately $37,984,974.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Spencer S. Lee sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $197.46, for a total value of $197,460.00. Following the completion of the sale, the insider now owns 37,809 shares in the company, valued at approximately $7,465,765.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,250 shares of company stock valued at $2,927,418. 4.90% of the stock is owned by company insiders.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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