GAMMA Investing LLC Raises Stake in Chemed Co. (NYSE:CHE)

GAMMA Investing LLC increased its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 131,200.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,752 shares of the company's stock after purchasing an additional 166,625 shares during the period. GAMMA Investing LLC owned about 1.14% of Chemed worth $102,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CHE. Raymond James Financial Inc. acquired a new position in shares of Chemed during the fourth quarter valued at $42,023,000. Charles Schwab Investment Management Inc. boosted its position in Chemed by 10.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after purchasing an additional 13,394 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Chemed in the fourth quarter valued at approximately $8,138,000. Capital Insight Partners LLC lifted its holdings in Chemed by 5.3% during the 4th quarter. Capital Insight Partners LLC now owns 10,633 shares of the company's stock worth $5,633,000 after purchasing an additional 539 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Chemed by 36.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,406 shares of the company's stock worth $1,804,000 after purchasing an additional 914 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Chemed Trading Down 0.3%

Shares of NYSE:CHE traded down $1.85 during trading on Thursday, reaching $559.79. The company had a trading volume of 99,752 shares, compared to its average volume of 103,472. The company has a fifty day moving average of $576.96 and a two-hundred day moving average of $565.98. The stock has a market capitalization of $8.19 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. The company had revenue of $646.94 million during the quarter, compared to analysts' expectations of $641.78 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.20 EPS. As a group, equities research analysts predict that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Chemed's payout ratio is 9.74%.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president now owns 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the firm'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 transaction of $615,330.00. Following the completion of the transaction, the chief executive officer now directly owns 101,679 shares in the company, valued at approximately $62,566,139.07. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,500 shares of company stock worth $3,213,780 in the last three months. 3.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

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.