Rhumbline Advisers trimmed its holdings in shares of Chemed Corp. (NYSE:CHE) by 22.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,137 shares of the company’s stock after selling 12,012 shares during the period. Rhumbline Advisers owned 0.26% of Chemed worth $11,498,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in Chemed by 56.0% during the 4th quarter. Sei Investments Co. now owns 26,386 shares of the company’s stock valued at $6,413,000 after purchasing an additional 9,473 shares in the last quarter. Jane Street Group LLC acquired a new stake in Chemed during the 4th quarter valued at $1,208,000. Aperio Group LLC increased its holdings in Chemed by 1.4% during the 4th quarter. Aperio Group LLC now owns 15,256 shares of the company’s stock valued at $3,708,000 after purchasing an additional 205 shares in the last quarter. Ellington Management Group LLC acquired a new stake in Chemed during the 4th quarter valued at $219,000. Finally, Capital Fund Management S.A. acquired a new stake in Chemed during the 4th quarter valued at $1,094,000. 95.54% of the stock is owned by hedge funds and other institutional investors.
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In other news, VP Naomi C. Dallob sold 1,050 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $257.00, for a total value of $269,850.00. Following the transaction, the vice president now directly owns 6,649 shares in the company, valued at approximately $1,708,793. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Patrick Williams sold 10,000 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $326.17, for a total value of $3,261,700.00. Following the completion of the transaction, the insider now owns 35,355 shares in the company, valued at $11,531,740.35. The disclosure for this sale can be found here. Insiders sold a total of 82,421 shares of company stock valued at $25,195,501 over the last three months. Insiders own 4.82% of the company’s stock.
Chemed opened at $328.00 on Tuesday, according to MarketBeat Ratings. The firm has a market capitalization of $5.26 billion, a PE ratio of 33.81, a PEG ratio of 3.01 and a beta of 1.04. Chemed Corp. has a 52 week low of $326.52 and a 52 week high of $331.30. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.26.
Chemed (NYSE:CHE) last released its earnings results on Thursday, April 19th. The company reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.36. The company had revenue of $439.18 million during the quarter, compared to analysts’ expectations of $419.33 million. Chemed had a return on equity of 33.05% and a net margin of 6.67%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.82 EPS. equities research analysts expect that Chemed Corp. will post 10.96 EPS for the current year.
Chemed declared that its board has initiated a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Chemed from a “hold” rating to a “buy” rating and set a $339.00 price target for the company in a report on Tuesday, April 24th. Oppenheimer raised their price target on Chemed from $270.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, February 16th. ValuEngine raised Chemed from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $258.00 price target on shares of Chemed in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $290.67.
Chemed Company Profile
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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