Fmr LLC Reduces Position in Chemed Corp. (CHE)
Fmr LLC reduced its position in shares of Chemed Corp. (NYSE:CHE) by 19.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,500 shares of the company’s stock after selling 160,039 shares during the period. Fmr LLC owned approximately 4.11% of Chemed Corp. worth $134,274,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC lifted its holdings in Chemed Corp. by 88.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 17,530 shares of the company’s stock worth $3,585,000 after purchasing an additional 8,230 shares during the last quarter. American Century Companies Inc. acquired a new stake in Chemed Corp. during the 2nd quarter worth approximately $4,201,000. Citadel Advisors LLC lifted its holdings in Chemed Corp. by 195.4% during the 1st quarter. Citadel Advisors LLC now owns 4,558 shares of the company’s stock worth $833,000 after purchasing an additional 3,015 shares during the last quarter. Legal & General Group Plc lifted its holdings in Chemed Corp. by 9.5% during the 2nd quarter. Legal & General Group Plc now owns 31,177 shares of the company’s stock worth $6,378,000 after purchasing an additional 2,709 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Chemed Corp. by 5.6% during the 2nd quarter. Strs Ohio now owns 1,900 shares of the company’s stock worth $388,000 after purchasing an additional 100 shares during the last quarter. 96.96% of the stock is owned by institutional investors and hedge funds.
In related news, insider Kevin J. Mcnamara sold 15,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $201.16, for a total value of $3,017,400.00. Following the sale, the insider now owns 173,801 shares in the company, valued at $34,961,809.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick P. Grace sold 500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $201.48, for a total value of $100,740.00. Following the completion of the sale, the director now owns 4,515 shares in the company, valued at approximately $909,682.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,500 shares of company stock worth $3,315,600. Company insiders own 5.32% of the company’s stock.
Several research firms recently weighed in on CHE. Royal Bank Of Canada reissued a “hold” rating and set a $209.00 price target on shares of Chemed Corp. in a report on Tuesday. Zacks Investment Research cut Chemed Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. KeyCorp began coverage on Chemed Corp. in a report on Monday, August 28th. They set a “sector weight” rating for the company. Finally, BidaskClub cut Chemed Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $215.00.
Chemed Corp. (NYSE:CHE) opened at 203.52 on Friday. Chemed Corp. has a one year low of $132.92 and a one year high of $216.01. The firm has a 50-day moving average price of $194.81 and a 200 day moving average price of $197.29. The firm has a market capitalization of $3.25 billion, a PE ratio of 50.49 and a beta of 1.13.
Chemed Corp. (NYSE:CHE) last posted its earnings results on Tuesday, July 25th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.26. The firm had revenue of $415.06 million for the quarter, compared to the consensus estimate of $407.56 million. Chemed Corp. had a return on equity of 26.18% and a net margin of 4.16%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.80 earnings per share. Analysts anticipate that Chemed Corp. will post $8.21 EPS for the current fiscal year.
About Chemed Corp.
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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