Bailard Inc. Cuts Position in Chemed Co. (NYSE:CHE)

Bailard Inc. lowered its position in shares of Chemed Co. (NYSE:CHE) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,471 shares of the company’s stock after selling 37 shares during the period. Bailard Inc.’s holdings in Chemed were worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Chemed during the fourth quarter valued at about $37,000. Larson Financial Group LLC bought a new position in shares of Chemed during the third quarter valued at $44,000. Legacy Financial Group LLC purchased a new stake in Chemed in the third quarter worth approximately $48,000. Covestor Ltd lifted its stake in shares of Chemed by 27.4% in the 3rd quarter. Covestor Ltd now owns 144 shares of the company’s stock worth $75,000 after purchasing an additional 31 shares during the period. Finally, ORG Partners LLC purchased a new stake in Chemed in the third quarter worth about $126,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Oppenheimer upped their price target on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

Chemed Stock Down 1.3 %

Shares of CHE traded down $7.32 during mid-day trading on Friday, reaching $566.02. The company had a trading volume of 36,301 shares, compared to its average volume of 79,123. The stock has a 50 day moving average of $623.76 and a two-hundred day moving average of $590.54. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62. The stock has a market capitalization of $8.56 billion, a P/E ratio of 30.86, a PEG ratio of 2.48 and a beta of 0.42.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 31.69% and a net margin of 12.36%. The company had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. On average, sell-side analysts expect that Chemed Co. will post 21.99 earnings per share for the current year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s payout ratio is 8.61%.

Insider Transactions at Chemed

In other Chemed news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the sale, the vice president now owns 1,422 shares of the company’s stock, valued at $917,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the transaction, the chief financial officer now owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Insiders have sold 15,808 shares of company stock worth $10,184,531 over the last quarter. 3.32% of the stock is currently owned by insiders.

Chemed Company Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.