Chemed Corporation $CHE Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its position in shares of Chemed Corporation (NYSE:CHE) by 73.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Chemed in the 2nd quarter valued at approximately $691,290,000. First Trust Advisors LP raised its position in shares of Chemed by 24.7% during the 1st quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock valued at $89,295,000 after acquiring an additional 46,791 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Chemed by 1.3% during the third quarter. Copeland Capital Management LLC now owns 146,833 shares of the company’s stock worth $74,162,000 after purchasing an additional 1,826 shares during the last quarter. Bank of America Corp DE acquired a new position in Chemed in the second quarter worth $48,255,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Chemed in the second quarter worth $44,309,000. Institutional investors own 95.85% of the company’s stock.

Chemed Trading Down 1.5%

NYSE:CHE opened at $533.99 on Friday. The firm has a market capitalization of $6.98 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.05 and a beta of 0.51. The business has a 50 day simple moving average of $514.64 and a 200 day simple moving average of $462.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.11 and a quick ratio of 0.89. Chemed Corporation has a 12-month low of $365.20 and a 12-month high of $562.24.

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

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Monday, August 17th were given a $0.70 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.80 annualized dividend and a yield of 0.5%. This is a boost from Chemed’s previous quarterly dividend of $0.60. Chemed’s payout ratio is 13.40%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America reiterated a “neutral” rating on shares of Chemed in a research note on Wednesday, July 29th. Oppenheimer raised their price target on shares of Chemed from $590.00 to $625.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings raised shares of Chemed from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and boosted their price objective for the company from $520.00 to $620.00 in a research report on Wednesday. Finally, Royal Bank Of Canada increased their price objective on shares of Chemed from $548.00 to $585.00 and gave the stock a “sector perform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Chemed currently has a consensus rating of “Hold” and an average price target of $603.00.

Insider Activity

In other Chemed news, CEO Kevin McNamara sold 2,000 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $513.45, for a total transaction of $1,026,900.00. Following the completion of the transaction, the chief executive officer directly owned 66,418 shares of the company’s stock, valued at $34,102,322.10. The trade was a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Spencer Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $541.04, for a total transaction of $541,040.00. Following the completion of the transaction, the executive vice president owned 13,912 shares of the company’s stock, valued at approximately $7,526,948.48. This trade represents a 6.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,000 shares of company stock worth $4,732,080. 3.33% of the stock is currently owned by 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.