Palisade Asset Management LLC Makes New Investment in Chemed Co. (NYSE:CHE)

Palisade Asset Management LLC acquired a new stake in Chemed Co. (NYSE:CHE) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 566 shares of the company’s stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also modified their holdings of CHE. GAMMA Investing LLC acquired a new position in shares of Chemed in the fourth quarter valued at approximately $37,000. Larson Financial Group LLC bought a new position in Chemed during the 3rd quarter worth about $44,000. SRS Capital Advisors Inc. raised its stake in shares of Chemed by 110.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 99 shares of the company’s stock valued at $58,000 after purchasing an additional 52 shares during the period. Covestor Ltd boosted its position in shares of Chemed by 27.4% during the third quarter. Covestor Ltd now owns 144 shares of the company’s stock worth $75,000 after buying an additional 31 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Chemed during the third quarter worth about $126,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chemed

In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the sale, the executive vice president now owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Chemed news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Spencer S. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the transaction, the executive vice president now owns 20,760 shares in the company, valued at $13,320,654. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,808 shares of company stock worth $10,184,531. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHE. Royal Bank of Canada upped their price target on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Oppenheimer upped their target price on Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th.

Chemed Price Performance

CHE stock traded up $9.64 during trading hours on Tuesday, reaching $580.70. The stock had a trading volume of 127,237 shares, compared to its average volume of 81,035. The stock has a 50-day simple moving average of $620.11 and a 200 day simple moving average of $594.07. Chemed Co. has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The stock has a market capitalization of $8.79 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The firm had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. On average, sell-side analysts forecast that Chemed Co. will post 21.72 EPS for the current fiscal year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s payout ratio is presently 8.61%.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.