Nordea Investment Management AB raised its stake in Chemed Corp. (NYSE:CHE) by 20.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,714 shares of the company’s stock after purchasing an additional 1,795 shares during the quarter. Nordea Investment Management AB owned approximately 0.07% of Chemed worth $2,165,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Chemed by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,830,711 shares of the company’s stock valued at $374,435,000 after purchasing an additional 34,938 shares in the last quarter. State Street Corp grew its stake in Chemed by 1.8% in the second quarter. State Street Corp now owns 453,605 shares of the company’s stock valued at $92,782,000 after purchasing an additional 8,238 shares in the last quarter. Voya Investment Management LLC grew its stake in Chemed by 39.7% in the second quarter. Voya Investment Management LLC now owns 214,764 shares of the company’s stock valued at $43,926,000 after purchasing an additional 61,056 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Chemed by 0.3% in the second quarter. Thrivent Financial For Lutherans now owns 171,350 shares of the company’s stock valued at $35,046,000 after purchasing an additional 490 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Chemed by 9.7% in the third quarter. Russell Investments Group Ltd. now owns 159,782 shares of the company’s stock valued at $32,285,000 after purchasing an additional 14,071 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.
A number of research firms have weighed in on CHE. Oppenheimer raised their price target on Chemed from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. National Bank Financial raised Chemed from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Sunday, August 13th. Zacks Investment Research cut Chemed from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. ValuEngine cut Chemed from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $209.00 price objective on shares of Chemed in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $236.00.
Shares of Chemed Corp. (CHE) opened at $238.83 on Thursday. Chemed Corp. has a 52-week low of $150.60 and a 52-week high of $251.00. The stock has a market capitalization of $3,844.45, a P/E ratio of 29.65, a PEG ratio of 5.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.48.
Chemed (NYSE:CHE) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.15. Chemed had a return on equity of 27.69% and a net margin of 4.62%. The company had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $414.34 million. During the same period last year, the firm posted $1.73 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. sell-side analysts anticipate that Chemed Corp. will post 4.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 13th were given a $0.28 dividend. The ex-dividend date was Friday, November 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.47%. Chemed’s payout ratio is 24.89%.
In related news, insider David Patrick Williams sold 11,000 shares of Chemed stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $241.28, for a total transaction of $2,654,080.00. Following the completion of the sale, the insider now directly owns 74,857 shares of the company’s stock, valued at approximately $18,061,496.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 1,000 shares of Chemed stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $228.45, for a total value of $228,450.00. Following the sale, the executive vice president now directly owns 36,809 shares of the company’s stock, valued at $8,409,016.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,179 shares of company stock valued at $10,729,699. Insiders own 4.90% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.thelincolnianonline.com/2017/12/07/nordea-investment-management-ab-has-2-17-million-holdings-in-chemed-corp-che.html.
Chemed Company Profile
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.
Receive News & Ratings for Chemed Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemed Corp. and related companies with MarketBeat.com's FREE daily email newsletter.