Balyasny Asset Management L.P. Acquires Shares of 16,943 Chemed Co. (NYSE:CHE)

Balyasny Asset Management L.P. acquired a new stake in shares of Chemed Co. (NYSE:CHE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,943 shares of the company's stock, valued at approximately $8,976,000. Balyasny Asset Management L.P. owned approximately 0.11% of Chemed at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CHE. Neuberger Berman Group LLC boosted its holdings in Chemed by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 501,562 shares of the company's stock worth $265,726,000 after acquiring an additional 5,809 shares in the last quarter. Geode Capital Management LLC boosted its stake in Chemed by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company's stock worth $180,654,000 after purchasing an additional 4,966 shares in the last quarter. FMR LLC boosted its stake in Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock worth $150,352,000 after purchasing an additional 45,174 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Chemed by 8.2% during the fourth quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company's stock worth $141,343,000 after buying an additional 20,310 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Chemed by 5.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 252,237 shares of the company's stock worth $133,635,000 after buying an additional 12,167 shares during the period. Institutional investors own 95.85% of the company's stock.

Chemed Stock Down 2.2%

Shares of CHE stock traded down $12.65 on Tuesday, hitting $556.46. The company had a trading volume of 125,394 shares, compared to its average volume of 100,662. The firm has a market cap of $8.14 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. The company has a 50-day moving average price of $588.00 and a 200-day moving average price of $564.58. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm had revenue of $646.94 million during the quarter, compared to analysts' expectations of $641.78 million. During the same period in the previous year, the business posted $5.20 EPS. The business's revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a $0.50 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Chemed's dividend payout ratio (DPR) is currently 9.74%.

Analyst Ratings Changes

CHE has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. StockNews.com upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $577.86, for a total value of $866,790.00. Following the completion of the transaction, the executive vice president now owns 16,127 shares of the company's stock, valued at approximately $9,319,148.22. This represents a 8.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the transaction, the chief executive officer now directly owns 101,679 shares of the company's stock, valued at approximately $62,566,139.07. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,000 shares of company stock valued at $3,534,135. 3.29% of the stock is owned by company insiders.

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 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.