Synergy Asset Management LLC Grows Stake in Chemed Corporation (NYSE:CHE)

Synergy Asset Management LLC raised its stake in Chemed Corporation (NYSE:CHE - Free Report) by 108.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,049 shares of the company's stock after acquiring an additional 1,586 shares during the quarter. Synergy Asset Management LLC's holdings in Chemed were worth $1,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Chemed in the fourth quarter valued at about $42,023,000. Silver Oak Securities Incorporated purchased a new position in Chemed in the first quarter valued at about $309,000. Charles Schwab Investment Management Inc. boosted its stake in Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after acquiring an additional 13,394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chemed by 36.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,406 shares of the company's stock valued at $1,804,000 after acquiring an additional 914 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Chemed by 197.4% in the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock valued at $40,870,000 after acquiring an additional 51,206 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHE has been the topic of several recent research reports. Wall Street Zen raised shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Royal Bank Of Canada boosted their price target on shares of Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a research report on Monday, April 28th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction that occurred 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 now owns 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,500 shares of company stock valued at $3,213,780. Company insiders own 3.29% of the company's stock.

Chemed Stock Up 0.2%

NYSE CHE opened at $547.06 on Friday. The company's 50 day moving average is $567.63 and its 200-day moving average is $564.77. Chemed Corporation has a 12-month low of $512.12 and a 12-month high of $623.61. The firm has a market cap of $8.00 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.28 and a beta of 0.54.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results 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 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. The company's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 29th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is presently 9.74%.

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.

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