Edgestream Partners L.P. Has $881,000 Stake in Chemed Corporation (NYSE:CHE)

Edgestream Partners L.P. lessened its position in shares of Chemed Corporation (NYSE:CHE - Free Report) by 71.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,432 shares of the company's stock after selling 3,575 shares during the quarter. Edgestream Partners L.P.'s holdings in Chemed were worth $881,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHE. Bessemer Group Inc. boosted its position in shares of Chemed by 14.2% during the first quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after buying an additional 118 shares during the period. DAVENPORT & Co LLC purchased a new position in Chemed in the first quarter valued at about $265,000. Mather Group LLC. lifted its holdings in shares of Chemed by 53.3% during the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after purchasing an additional 56 shares during the last quarter. Park Place Capital Corp grew its position in Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock worth $2,198,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its position in Chemed by 108.4% during the 1st quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock worth $1,876,000 after acquiring an additional 1,586 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $576.45, for a total value of $864,675.00. Following the completion of the sale, the chief executive officer owned 101,197 shares in the company, valued at approximately $58,335,010.65. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president owned 14,627 shares of the company's stock, valued at $8,454,259.73. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock valued at $2,598,450 in the last three months. 3.29% of the stock is owned by insiders.

Chemed Stock Up 1.1%

CHE stock traded up $5.06 during midday trading on Tuesday, reaching $454.48. The company had a trading volume of 79,988 shares, compared to its average volume of 112,177. The firm has a market capitalization of $6.65 billion, a PE ratio of 22.11, a P/E/G ratio of 2.17 and a beta of 0.50. The stock has a 50 day moving average price of $532.94 and a 200 day moving average price of $558.76. Chemed Corporation has a fifty-two week low of $443.50 and a fifty-two week high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. The company had revenue of $646.94 million for the quarter, compared to analysts' expectations of $641.78 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.20 earnings per share. Research analysts predict that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Chemed's payout ratio is presently 9.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America lowered their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $640.00 price objective (down from $674.00) on shares of Chemed in a research 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.

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.