Hanson & Doremus Investment Management cut its holdings in shares of Chemed Co. (NYSE:CHE) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,392 shares of the company’s stock after selling 651 shares during the quarter. Chemed accounts for 0.7% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 28th largest position. Hanson & Doremus Investment Management’s holdings in Chemed were worth $2,252,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CHE. Krane Funds Advisors LLC acquired a new stake in shares of Chemed in the 2nd quarter valued at $26,000. Advisory Services Network LLC raised its holdings in shares of Chemed by 117.9% in the 2nd quarter. Advisory Services Network LLC now owns 85 shares of the company’s stock valued at $30,000 after purchasing an additional 46 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Chemed by 152.9% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 177 shares of the company’s stock valued at $64,000 after purchasing an additional 107 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Chemed in the 2nd quarter valued at $92,000. Finally, Panagora Asset Management Inc. raised its holdings in shares of Chemed by 613.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 364 shares of the company’s stock valued at $131,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 87.78% of the company’s stock.
CHE stock traded up $0.95 during trading on Friday, reaching $406.26. 76,000 shares of the company were exchanged, compared to its average volume of 116,293. The company has a market cap of $6.54 billion, a P/E ratio of 34.05, a PEG ratio of 2.81 and a beta of 1.10. Chemed Co. has a 52-week low of $260.03 and a 52-week high of $441.79. The stock’s 50 day moving average price is $413.24 and its 200 day moving average price is $384.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.64 and a current ratio of 0.67.
Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 29th. The company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.15. The company had revenue of $480.61 million during the quarter, compared to analysts’ expectations of $478.89 million. Chemed had a net margin of 11.14% and a return on equity of 35.06%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.07 earnings per share. As a group, equities research analysts forecast that Chemed Co. will post 13.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Thursday, November 7th. Chemed’s payout ratio is currently 10.73%.
In related news, VP Naomi C. Dallob sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $413.00, for a total value of $949,900.00. Following the completion of the sale, the vice president now directly owns 8,486 shares in the company, valued at $3,504,718. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $413.67, for a total transaction of $827,340.00. Following the completion of the sale, the executive vice president now owns 27,535 shares of the company’s stock, valued at $11,390,403.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,335 shares of company stock valued at $19,364,682. 3.96% of the stock is currently owned by company insiders.
A number of brokerages have recently weighed in on CHE. JMP Securities upgraded shares of Chemed from a “market perform” rating to an “outperform” rating and set a $490.00 price objective on the stock in a report on Friday, November 1st. Oppenheimer lifted their price target on shares of Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. ValuEngine upgraded shares of Chemed from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America lifted their price target on shares of Chemed from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lifted their price target on shares of Chemed to $405.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $427.00.
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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
Read More: What Does a Sell-Side Analyst Rating Mean?
Receive News & Ratings for Chemed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemed and related companies with MarketBeat.com's FREE daily email newsletter.