Chemed Co. (NYSE:CHE) Shares Sold by MAI Capital Management

MAI Capital Management cut its stake in Chemed Co. (NYSE:CHE) by 14.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,916 shares of the company’s stock after selling 640 shares during the period. MAI Capital Management’s holdings in Chemed were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock valued at $47,000 after buying an additional 22 shares in the last quarter. American National Bank & Trust acquired a new stake in Chemed during the third quarter worth about $61,000. EntryPoint Capital LLC increased its position in Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after purchasing an additional 18 shares during the last quarter. Mather Group LLC. raised its stake in Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after purchasing an additional 69 shares during the period. Finally, Quarry LP grew its stake in shares of Chemed by 721.7% in the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reduced their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Chemed Trading Down 1.3 %

Shares of CHE opened at $547.46 on Wednesday. The company’s 50-day moving average price is $579.53 and its 200 day moving average price is $565.25. Chemed Co. has a 12-month low of $523.33 and a 12-month high of $654.62. The firm has a market cap of $8.24 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46.

Chemed (NYSE:CHE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). The company had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. During the same period last year, the firm posted $5.32 earnings per share. Chemed’s revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. Chemed’s payout ratio is presently 10.11%.

Insider Activity at Chemed

In related news, Director George J. Walsh III sold 400 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total transaction of $238,988.00. Following the sale, the director now directly owns 3,046 shares of the company’s stock, valued at $1,819,893.62. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the completion of the transaction, the chief executive officer now directly owns 103,735 shares of the company’s stock, valued at $62,117,555.35. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,113 shares of company stock worth $2,411,905. 3.32% of the stock is currently owned by company insiders.

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.