Convergence Investment Partners LLC Makes New $501,000 Investment in Chemed Corporation (NYSE:CHE)

Convergence Investment Partners LLC acquired a new position in Chemed Corporation (NYSE:CHE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 814 shares of the company's stock, valued at approximately $501,000.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Chemed during the first quarter worth approximately $29,000. HM Payson & Co. acquired a new stake in shares of Chemed during the first quarter worth approximately $30,000. Whipplewood Advisors LLC boosted its holdings in shares of Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Chemed by 633.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company's stock worth $47,000 after purchasing an additional 76 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Chemed by 600.0% during the first quarter. Versant Capital Management Inc now owns 98 shares of the company's stock worth $60,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CHE shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $640.00 price objective (down previously from $674.00) on shares of Chemed in a research report on Monday, June 30th. Bank of America cut their price objective on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group started coverage on shares of Chemed in a research report on Friday. They set a "hold" rating and a $500.00 price objective on the stock.

Chemed Stock Up 1.3%

Shares of NYSE:CHE traded up $6.06 during trading on Friday, reaching $469.08. The stock had a trading volume of 142,706 shares, compared to its average volume of 184,667. Chemed Corporation has a 52 week low of $449.01 and a 52 week high of $623.60. The stock has a fifty day simple moving average of $522.47 and a two-hundred day simple moving average of $555.97. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.23 and a beta of 0.50.

Chemed (NYSE:CHE - Get Free Report) last announced 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. Chemed had a net margin of 12.40% and a return on equity of 27.58%. The business had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. During the same quarter in the previous year, the firm posted $5.20 earnings per share. Chemed's revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. Chemed's dividend payout ratio is currently 9.74%.

Insiders Place Their Bets

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction on Friday, May 16th. The shares were 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. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction on Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the sale, the chief executive officer owned 101,197 shares in the company, valued at $58,335,010.65. This represents 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 quarter. 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.