Bridges Investment Management Inc. Boosts Stake in Chemed Corporation (NYSE:CHE)

Bridges Investment Management Inc. increased its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,001 shares of the company's stock after purchasing an additional 3,528 shares during the quarter. Bridges Investment Management Inc. owned 0.49% of Chemed worth $43,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHE. Neuberger Berman Group LLC increased its stake in shares of Chemed by 1.2% during the fourth quarter. Neuberger Berman Group LLC now owns 501,562 shares of the company's stock worth $265,726,000 after buying an additional 5,809 shares during the period. Geode Capital Management LLC increased its position in shares of Chemed by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company's stock valued at $180,654,000 after purchasing an additional 4,966 shares during the last quarter. FMR LLC increased its position in shares of Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock valued at $150,352,000 after purchasing an additional 45,174 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Chemed by 8.2% during the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company's stock worth $141,343,000 after purchasing an additional 20,310 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Chemed by 5.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 252,237 shares of the company's stock worth $133,635,000 after purchasing an additional 12,167 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Price Performance

Shares of Chemed stock traded up $6.28 during trading hours on Wednesday, hitting $472.18. The company had a trading volume of 172,318 shares, compared to its average volume of 112,125. The company's 50-day moving average is $549.12 and its two-hundred day moving average is $561.45. The company has a market cap of $6.91 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.24 and a beta of 0.50. Chemed Corporation has a twelve month low of $457.44 and a twelve month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings data 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 12.40% and a return on equity of 27.58%. The company had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the prior year, the firm posted $5.20 earnings per share. Chemed's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's payout ratio is currently 9.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $640.00 target price (down previously from $674.00) on shares of Chemed in a report on Monday, June 30th. Wall Street Zen cut Chemed from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Bank of America cut their target price on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th.

Insider Buying and Selling

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction on Monday, May 5th. The shares were sold at an average price of $576.45, for a total value of $864,675.00. Following the transaction, the chief executive officer directly owned 101,197 shares in the company, valued at approximately $58,335,010.65. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president directly owned 14,627 shares in the company, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,500 shares of company stock worth $2,598,450. Insiders own 3.29% of the company's stock.

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.