Bank of America Corp DE Sells 31,508 Shares of Chemed Co. (NYSE:CHE)

Bank of America Corp DE cut its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 32.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,251 shares of the company's stock after selling 31,508 shares during the period. Bank of America Corp DE owned 0.44% of Chemed worth $35,100,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company's stock worth $28,000 after buying an additional 39 shares during the last quarter. Atala Financial Inc bought a new stake in Chemed in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC grew its position in Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock worth $30,000 after purchasing an additional 22 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of Chemed during the 4th quarter worth about $34,000. Finally, Tortoise Investment Management LLC raised its position in shares of Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock valued at $41,000 after buying an additional 34 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Insider Activity at Chemed

In other news, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the completion of the transaction, the executive vice president now directly owns 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the completion of the sale, the chief executive officer now directly owns 102,679 shares in the company, valued at approximately $60,957,441.93. This represents a 1.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock valued at $4,401,120. 3.29% of the stock is owned by insiders.

Analyst Ratings Changes

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

Chemed Stock Down 0.4%

CHE stock traded down $2.29 during trading on Monday, hitting $577.57. The company had a trading volume of 112,103 shares, compared to its average volume of 101,772. The firm has a 50-day moving average price of $586.22 and a 200-day moving average price of $564.37. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $623.61. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.15 and a beta of 0.59.

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

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.