BI Asset Management Fondsmaeglerselskab A S Buys New Stake in Chemed Co. (NYSE:CHE)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Chemed Co. (NYSE:CHEFree Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,657 shares of the company’s stock, valued at approximately $1,064,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHE. JPMorgan Chase & Co. boosted its stake in shares of Chemed by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock worth $149,355,000 after buying an additional 24,161 shares during the last quarter. Toroso Investments LLC boosted its position in Chemed by 13.7% in the 3rd quarter. Toroso Investments LLC now owns 1,991 shares of the company’s stock worth $1,035,000 after purchasing an additional 240 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Chemed during the 3rd quarter worth approximately $126,000. Wellington Management Group LLP increased its holdings in shares of Chemed by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock valued at $200,727,000 after purchasing an additional 1,044 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Chemed by 94.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 5,103 shares of the company’s stock valued at $2,652,000 after purchasing an additional 2,477 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the completion of the sale, the chief executive officer now directly owns 108,549 shares in the company, valued at $61,605,899.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $567.54, for a total value of $2,270,160.00. Following the transaction, the chief executive officer now directly owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total transaction of $153,638.32. Following the sale, the director now directly owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,784 shares of company stock worth $3,240,053 over the last quarter. 3.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada dropped their target price on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st.

View Our Latest Report on Chemed

Chemed Price Performance

NYSE CHE traded up $2.15 on Wednesday, hitting $529.97. The company had a trading volume of 7,951 shares, compared to its average volume of 81,939. The company’s fifty day moving average price is $550.41 and its 200-day moving average price is $586.81. The company has a market capitalization of $8.02 billion, a PE ratio of 28.41, a PEG ratio of 2.20 and a beta of 0.43. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62.

Chemed (NYSE:CHEGet Free Report) last released its earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The company had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. On average, sell-side analysts anticipate that Chemed Co. will post 21.54 EPS for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.30%. Chemed’s payout ratio is currently 8.61%.

About Chemed

(Free Report)

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.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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