Swiss National Bank Sells 4,800 Shares of Chemed Co. (NYSE:CHE)

Swiss National Bank decreased its position in shares of Chemed Co. (NYSE:CHE) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,200 shares of the company’s stock after selling 4,800 shares during the period. Swiss National Bank owned approximately 0.19% of Chemed worth $16,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CHE. GAMMA Investing LLC bought a new stake in Chemed in the 4th quarter worth approximately $37,000. Larson Financial Group LLC purchased a new stake in shares of Chemed in the 3rd quarter valued at $44,000. Covestor Ltd grew its holdings in shares of Chemed by 27.4% during the 3rd quarter. Covestor Ltd now owns 144 shares of the company’s stock valued at $75,000 after purchasing an additional 31 shares during the last quarter. ORG Partners LLC purchased a new position in Chemed in the 3rd quarter worth $126,000. Finally, Silver Oak Securities Incorporated bought a new stake in Chemed in the third quarter worth $126,000. Institutional investors own 95.85% of the company’s stock.

Analysts Set New Price Targets

CHE has been the topic of several recent research reports. Oppenheimer raised their price target on Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Royal Bank of Canada raised their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a report on Monday, March 4th.

Insider Buying and Selling

In other news, VP Brian C. Judkins sold 11,158 shares of the business’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 sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael D. Witzeman sold 2,650 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 2,882 shares in the company, valued at $1,853,529.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock worth $10,184,531 in the last three months. 3.32% of the stock is owned by corporate insiders.

Chemed Stock Performance

CHE opened at $574.13 on Friday. The stock has a market capitalization of $8.69 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. The stock’s 50 day moving average price is $617.63 and its 200-day moving average price is $594.25. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last announced its earnings results 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 net margin of 12.36% and a return on equity of 30.52%. The company had revenue of $589.23 million for the quarter, compared to the consensus estimate of $587.18 million. Research analysts forecast that Chemed Co. will post 21.72 EPS for the current fiscal year.

Chemed Announces Dividend

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

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 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.