Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Chemed Co. (NYSE:CHE)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Chemed Co. (NYSE:CHE) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,993 shares of the company’s stock after acquiring an additional 568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chemed were worth $1,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Chemed during the 3rd quarter valued at approximately $44,000. Legacy Financial Group LLC bought a new stake in shares of Chemed in the third quarter worth $48,000. Covestor Ltd raised its holdings in Chemed by 27.4% in the third quarter. Covestor Ltd now owns 144 shares of the company’s stock valued at $75,000 after acquiring an additional 31 shares in the last quarter. ORG Partners LLC bought a new position in Chemed during the 3rd quarter valued at $126,000. Finally, Silver Oak Securities Incorporated acquired a new position in Chemed during the 3rd quarter worth $126,000. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Price Performance

CHE stock opened at $617.56 on Thursday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.43 and a beta of 0.42. Chemed Co. has a 1-year low of $492.84 and a 1-year high of $654.62. The firm has a fifty day moving average price of $623.23 and a two-hundred day moving average price of $590.47.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $6.60 earnings per share for the quarter, beating analysts’ consensus estimates of $6.25 by $0.35. Chemed had a net margin of 12.03% and a return on equity of 32.29%. The business had revenue of $585.90 million during the quarter, compared to the consensus estimate of $586.64 million. During the same quarter in the prior year, the firm earned $5.39 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts expect that Chemed Co. will post 21.99 EPS for the current fiscal year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is 8.93%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Chemed news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction 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 sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chemed news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the transaction, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the completion of 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. In the last 90 days, insiders have sold 15,808 shares of company stock valued at $10,184,531. Insiders own 3.32% of the company’s stock.

Chemed 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.