Bank of Nova Scotia Sells 642 Shares of Chemed Corporation (NYSE:CHE)

Bank of Nova Scotia trimmed its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,200 shares of the company's stock after selling 642 shares during the period. Bank of Nova Scotia's holdings in Chemed were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHE. Alpine Bank Wealth Management bought a new position in Chemed in the 1st quarter valued at $29,000. HM Payson & Co. purchased a new stake in shares of Chemed in the first quarter worth $30,000. Whipplewood Advisors LLC raised its position in shares of Chemed by 54.5% in the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after buying an additional 18 shares in the last quarter. Versant Capital Management Inc boosted its stake in Chemed by 600.0% during the first quarter. Versant Capital Management Inc now owns 98 shares of the company's stock valued at $60,000 after buying an additional 84 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Chemed by 23.0% in the 1st quarter. Farther Finance Advisors LLC now owns 150 shares of the company's stock worth $93,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Chemed Price Performance

NYSE CHE traded up $0.91 on Friday, reaching $435.82. 149,122 shares of the company's stock traded hands, compared to its average volume of 180,996. The stock has a market cap of $6.35 billion, a PE ratio of 22.41, a P/E/G ratio of 2.40 and a beta of 0.46. Chemed Corporation has a 12 month low of $408.42 and a 12 month high of $623.60. The stock has a 50-day simple moving average of $494.51 and a 200 day simple moving average of $548.41.

Chemed (NYSE:CHE - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing the consensus estimate of $6.02 by ($1.75). The business had revenue of $618.80 million for the quarter, compared to the consensus estimate of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 EPS. As a group, analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be given a $0.60 dividend. The ex-dividend date is Monday, August 11th. This is an increase from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.6%. Chemed's dividend payout ratio is presently 10.28%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHE. Oppenheimer dropped their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Bank of America dropped their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Royal Bank Of Canada decreased their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group began coverage on shares of Chemed in a research report on Friday, July 25th. They issued a "hold" rating and a $500.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $579.75.

Insider Buying and Selling at Chemed

In other news, Director George J. Walsh III bought 200 shares of the business's stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the acquisition, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. This trade represents a 6.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $421.91, for a total transaction of $4,224,162.92. The disclosure for this sale can be found here. Corporate insiders own 3.29% of the company's stock.

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.