Mutual of America Capital Management LLC Increases Stake in Chemed Corp. (CHE)
Mutual of America Capital Management LLC lifted its stake in shares of Chemed Corp. (NYSE:CHE) by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,463 shares of the company’s stock after purchasing an additional 1,258 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of Chemed Corp. worth $2,345,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Strs Ohio raised its position in shares of Chemed Corp. by 38.5% during the first quarter. Strs Ohio now owns 1,800 shares of the company’s stock worth $328,000 after acquiring an additional 500 shares during the last quarter. Swiss National Bank lifted its stake in shares of Chemed Corp. by 0.8% during the first quarter. Swiss National Bank now owns 26,800 shares of the company’s stock valued at $4,896,000 after acquiring an additional 200 shares during the period. Sei Investments Co. boosted its holdings in Chemed Corp. by 49.6% in the first quarter. Sei Investments Co. now owns 12,410 shares of the company’s stock valued at $2,268,000 after acquiring an additional 4,113 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in Chemed Corp. by 7.6% in the first quarter. Mason Street Advisors LLC now owns 3,815 shares of the company’s stock valued at $697,000 after acquiring an additional 270 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Chemed Corp. by 5.1% in the first quarter. M&T Bank Corp now owns 2,675 shares of the company’s stock valued at $489,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 96.96% of the company’s stock.
In other news, insider Spencer S. Lee sold 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $197.46, for a total transaction of $197,460.00. Following the completion of the transaction, the insider now owns 37,809 shares of the company’s stock, valued at $7,465,765.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick P. Grace sold 500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $201.48, for a total transaction of $100,740.00. Following the transaction, the director now directly owns 4,515 shares of the company’s stock, valued at approximately $909,682.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,500 shares of company stock worth $3,315,600. 5.32% of the stock is owned by corporate insiders.
A number of brokerages recently commented on CHE. BidaskClub lowered Chemed Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a research report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $208.00 target price on shares of Chemed Corp. in a research note on Wednesday, July 5th. KeyCorp initiated coverage on shares of Chemed Corp. in a research note on Monday, August 28th. They issued a “sector weight” rating on the stock. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of Chemed Corp. from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $215.00.
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Chemed Corp. (NYSE:CHE) opened at 203.50 on Tuesday. The firm has a market cap of $3.25 billion, a P/E ratio of 50.48 and a beta of 1.13. Chemed Corp. has a 1-year low of $132.92 and a 1-year high of $216.01. The stock has a 50 day moving average price of $193.26 and a 200-day moving average price of $196.93.
Chemed Corp. (NYSE:CHE) last released its quarterly earnings data on Tuesday, July 25th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.26. The company had revenue of $415.06 million during 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 firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.80 earnings per share. Equities research analysts forecast that Chemed Corp. will post $8.21 EPS for the current 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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