Chemed Corporation (NYSE:CHE) Shares Acquired by Bridges Investment Management Inc.

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

Several other institutional investors and hedge funds also recently modified their holdings of CHE. Norges Bank purchased a new stake in shares of Chemed in the fourth quarter worth about $95,872,000. GAMMA Investing LLC boosted its position in shares of Chemed by 131,200.8% in the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock worth $102,606,000 after buying an additional 166,625 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Chemed in the fourth quarter worth about $61,664,000. Point72 Asset Management L.P. purchased a new stake in shares of Chemed in the fourth quarter worth about $54,587,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chemed in the fourth quarter worth about $42,023,000. Hedge funds and other institutional investors own 95.85% of the company's stock.

Insider Activity at Chemed

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the sale, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 101,197 shares in the company, valued at $58,335,010.65. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock worth $2,598,450 in the last 90 days. 3.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

CHE has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $640.00 price target (down previously from $674.00) on shares of Chemed in a report on Monday, June 30th. Bank of America reduced their price target on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a report on Monday, June 30th. Finally, Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Chemed Price Performance

CHE traded down $5.31 on Thursday, reaching $466.26. The company's stock had a trading volume of 132,820 shares, compared to its average volume of 112,399. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.27 and a beta of 0.50. Chemed Corporation has a 1 year low of $457.44 and a 1 year high of $623.61. The business's 50 day moving average is $546.98 and its 200 day moving average is $561.09.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The firm 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 business posted $5.20 earnings per share. Chemed's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, May 29th. Chemed's payout ratio is currently 9.74%.

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.