Balasa Dinverno & Foltz LLC Buys New Position in Chemed Co. (NYSE:CHE)

Balasa Dinverno & Foltz LLC bought a new stake in shares of Chemed Co. (NYSE:CHE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 511 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Asset Management Inc. bought a new position in shares of Chemed in the third quarter worth approximately $53,733,000. Carillon Tower Advisers Inc. purchased a new position in shares of Chemed in the 3rd quarter valued at approximately $42,053,000. Citadel Advisors LLC raised its position in shares of Chemed by 542.3% in the 2nd quarter. Citadel Advisors LLC now owns 98,213 shares of the company’s stock valued at $35,439,000 after purchasing an additional 82,921 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Chemed in the 2nd quarter valued at approximately $26,274,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Chemed by 27.9% in the 2nd quarter. TimesSquare Capital Management LLC now owns 217,000 shares of the company’s stock valued at $78,302,000 after purchasing an additional 47,300 shares during the last quarter. Institutional investors own 88.69% of the company’s stock.

CHE has been the subject of several research analyst reports. Oppenheimer increased their price objective on shares of Chemed from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Chemed to $405.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Bank of America increased their price objective on shares of Chemed from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JMP Securities raised shares of Chemed from a “market perform” rating to an “outperform” rating and set a $490.00 price objective for the company in a research report on Friday, November 1st. Finally, ValuEngine raised shares of Chemed from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Chemed presently has a consensus rating of “Hold” and a consensus target price of $427.00.

In other Chemed news, VP Naomi C. Dallob sold 2,300 shares of the firm’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 transaction of $949,900.00. Following the completion of the transaction, the vice president now directly owns 8,486 shares of the company’s stock, valued at approximately $3,504,718. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $413.67, for a total transaction of $827,340.00. Following the transaction, the executive vice president now directly owns 27,535 shares of the company’s stock, valued at $11,390,403.45. The disclosure for this sale can be found here. Insiders have sold a total of 26,956 shares of company stock valued at $11,446,181 over the last three months. 3.96% of the stock is currently owned by insiders.

CHE opened at $408.89 on Thursday. Chemed Co. has a 12-month low of $260.03 and a 12-month high of $441.79. The company has a current ratio of 0.67, a quick ratio of 0.64 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $6.54 billion, a PE ratio of 34.27, a P/E/G ratio of 2.78 and a beta of 1.10. The firm has a 50 day moving average of $411.64 and a two-hundred day moving average of $385.84.

Chemed (NYSE:CHE) last posted its quarterly 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. Chemed had a net margin of 11.14% and a return on equity of 35.06%. The company had revenue of $480.61 million during the quarter, compared to analyst estimates of $478.89 million. During the same period last year, the firm posted $3.07 EPS. Chemed’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts predict that Chemed Co. will post 13.47 EPS for the current fiscal year.

The firm also recently declared 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 0.31%. The ex-dividend date of this dividend is Thursday, November 7th. Chemed’s dividend payout ratio is presently 10.73%.

About Chemed

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.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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