Eaton Vance Management decreased its holdings in Chemed Co. (NYSE:CHE) by 31.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,508 shares of the company’s stock after selling 8,918 shares during the quarter. Eaton Vance Management’s holdings in Chemed were worth $6,234,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in Chemed by 1.5% in the third quarter. Acadian Asset Management LLC now owns 576,079 shares of the company’s stock valued at $184,100,000 after buying an additional 8,586 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of Chemed by 24.8% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 180,144 shares of the company’s stock worth $57,570,000 after purchasing an additional 35,841 shares during the period. Boston Partners increased its stake in shares of Chemed by 2.7% during the second quarter. Boston Partners now owns 160,271 shares of the company’s stock worth $51,577,000 after purchasing an additional 4,186 shares during the period. Renaissance Technologies LLC increased its stake in shares of Chemed by 92.6% during the second quarter. Renaissance Technologies LLC now owns 137,900 shares of the company’s stock worth $44,378,000 after purchasing an additional 66,300 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Chemed during the second quarter worth approximately $40,386,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Bank of America assumed coverage on Chemed in a research note on Friday, October 12th. They set a “buy” rating and a $390.00 target price on the stock. Zacks Investment Research lowered Chemed from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $332.00.
In related news, insider David Patrick Williams sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $302.30, for a total transaction of $3,023,000.00. Following the sale, the insider now owns 24,918 shares of the company’s stock, valued at $7,532,711.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kevin J. Mcnamara sold 7,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $305.98, for a total value of $2,141,860.00. Following the sale, the insider now directly owns 141,293 shares in the company, valued at approximately $43,232,832.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,953 shares of company stock worth $7,678,463. 4.90% of the stock is owned by corporate insiders.
Shares of NYSE CHE opened at $305.99 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 26.68, a PEG ratio of 2.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.11 and a current ratio of 1.14. Chemed Co. has a 1-year low of $234.00 and a 1-year high of $335.99.
Chemed (NYSE:CHE) last announced its earnings results on Monday, October 29th. The company reported $3.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.27. The company had revenue of $444.15 million for the quarter, compared to analyst estimates of $445.16 million. Chemed had a return on equity of 35.13% and a net margin of 11.73%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 earnings per share. Equities research analysts predict that Chemed Co. will post 11.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. Chemed’s dividend payout ratio (DPR) is currently 22.39%.
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Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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