Chemed Corporation $CHE Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its holdings in Chemed Corporation (NYSE:CHE) by 73.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370 shares of the company’s stock after selling 1,020 shares during the quarter. Sterling Capital Management LLC’s holdings in Chemed were worth $187,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Chemed during the second quarter valued at about $691,290,000. First Trust Advisors LP lifted its holdings in Chemed by 24.7% in the first quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after purchasing an additional 46,791 shares during the period. Copeland Capital Management LLC grew its position in Chemed by 1.3% in the 3rd quarter. Copeland Capital Management LLC now owns 146,833 shares of the company’s stock valued at $74,162,000 after buying an additional 1,826 shares in the last quarter. Bank of America Corp DE bought a new position in Chemed in the 2nd quarter valued at about $48,255,000. Finally, Caisse de depot et placement du Quebec bought a new position in Chemed in the 2nd quarter valued at about $44,309,000. 95.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America reissued a “neutral” rating on shares of Chemed in a research note on Wednesday, July 29th. UBS Group upped their price target on shares of Chemed from $650.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen upgraded shares of Chemed from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Oppenheimer raised their price objective on shares of Chemed from $590.00 to $625.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank Of Canada boosted their target price on Chemed from $548.00 to $585.00 and gave the stock a “sector perform” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Chemed presently has an average rating of “Hold” and an average target price of $603.00.

Chemed Stock Performance

NYSE:CHE opened at $533.99 on Friday. The company has a 50-day moving average of $514.64 and a 200-day moving average of $462.97. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 0.27. Chemed Corporation has a twelve month low of $365.20 and a twelve month high of $562.24.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, topping analysts’ consensus estimates of $6.44 by $0.31. Chemed had a net margin of 10.61% and a return on equity of 35.18%. The business had revenue of $690.94 million for the quarter, compared to the consensus estimate of $685.04 million. During the same period in the previous year, the firm earned $5.27 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that Chemed Corporation will post 24.05 earnings per share for the current fiscal year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.5%. This is a positive change from Chemed’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 17th. Chemed’s dividend payout ratio (DPR) is presently 13.40%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin McNamara sold 2,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $539.51, for a total value of $1,079,020.00. Following the transaction, the chief executive officer owned 70,418 shares of the company’s stock, valued at approximately $37,991,215.18. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Spencer Lee sold 1,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $541.04, for a total value of $541,040.00. Following the sale, the executive vice president owned 13,912 shares of the company’s stock, valued at $7,526,948.48. This trade represents a 6.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,000 shares of company stock worth $4,732,080 in the last ninety days. 3.33% of the stock is owned by corporate insiders.

Chemed Company Profile

Chemed Corporation (NYSE:CHE) is a Cincinnati, Ohio-based company that provides healthcare and residential and commercial services through two operating businesses: VITAS Healthcare and Roto-Rooter. Its operations serve customers primarily in the United States, with Roto-Rooter also providing services in Canada.

VITAS Healthcare is a provider of hospice and palliative care for individuals with advanced illnesses. The business delivers care in patients’ homes, hospice inpatient units, hospitals, nursing facilities and other care settings.