Eagle Boston Investment Management Inc. trimmed its stake in Chemed Corp. (NYSE:CHE) by 23.7% in the 1st quarter, HoldingsChannel reports. The fund owned 50,277 shares of the company’s stock after selling 15,639 shares during the quarter. Chemed comprises 1.4% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 17th largest position. Eagle Boston Investment Management Inc.’s holdings in Chemed were worth $13,718,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHE. Eaton Vance Management bought a new position in shares of Chemed in the 4th quarter worth $19,967,000. BlackRock Inc. increased its position in Chemed by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,079,274 shares of the company’s stock valued at $505,307,000 after buying an additional 49,135 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Chemed during the 4th quarter valued at about $9,296,000. Goldman Sachs Group Inc. increased its position in Chemed by 70.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 72,500 shares of the company’s stock valued at $17,619,000 after buying an additional 29,844 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Chemed during the 4th quarter valued at about $6,320,000. 95.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Chemed opened at $331.85 on Friday, Marketbeat.com reports. Chemed Corp. has a 1 year low of $327.89 and a 1 year high of $331.32. The stock has a market cap of $5.29 billion, a P/E ratio of 61.91, a price-to-earnings-growth ratio of 3.03 and a beta of 1.04. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.
Chemed announced that its board has authorized a stock buyback plan on Tuesday, March 6th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Several research analysts recently issued reports on CHE shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $258.00 target price on shares of Chemed in a research report on Friday, February 16th. Oppenheimer upped their target price on Chemed from $270.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. ValuEngine raised Chemed from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research raised Chemed from a “hold” rating to a “buy” rating and set a $339.00 target price on the stock in a research report on Tuesday, April 24th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $290.67.
In other Chemed news, EVP Spencer S. Lee sold 1,428 shares of the business’s stock in a transaction dated Wednesday, April 25th. The stock was sold at an average price of $299.90, for a total transaction of $428,257.20. Following the sale, the executive vice president now owns 33,674 shares in the company, valued at approximately $10,098,832.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Patrick Williams sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $301.11, for a total value of $3,011,100.00. Following the sale, the chief financial officer now owns 75,052 shares in the company, valued at approximately $22,598,907.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,861 shares of company stock worth $25,673,898. Company insiders own 4.90% of the company’s stock.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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