Cynosure Group LLC Reduces Stock Position in Chemed Co. (NYSE:CHE)

Cynosure Group LLC decreased its stake in shares of Chemed Co. (NYSE:CHE) by 12.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 616 shares of the company’s stock after selling 86 shares during the quarter. Cynosure Group LLC’s holdings in Chemed were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHE. Price T Rowe Associates Inc. MD raised its holdings in shares of Chemed by 105.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,733 shares of the company’s stock worth $40,913,000 after acquiring an additional 32,752 shares during the period. Cetera Advisors LLC purchased a new position in Chemed during the first quarter worth about $267,000. DekaBank Deutsche Girozentrale boosted its holdings in Chemed by 34.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 154,579 shares of the company’s stock valued at $98,516,000 after purchasing an additional 39,633 shares during the last quarter. Park Place Capital Corp grew its stake in shares of Chemed by 170.0% in the 2nd quarter. Park Place Capital Corp now owns 1,080 shares of the company’s stock valued at $586,000 after buying an additional 680 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Chemed by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the completion of the transaction, the chief executive officer now directly owns 101,735 shares of the company’s stock, valued at $58,270,755.95. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Walsh III sold 400 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the sale, the director now owns 3,046 shares in the company, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,113 shares of company stock worth $3,557,445 over the last three months. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHE. Royal Bank of Canada decreased their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd.

Chemed Stock Performance

Shares of CHE stock opened at $571.31 on Friday. The firm has a market cap of $8.60 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.43 and a beta of 0.46. The firm’s 50 day moving average price is $578.74 and its 200-day moving average price is $565.02. Chemed Co. has a one year low of $523.33 and a one year high of $654.62.

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

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, November 18th. Chemed’s dividend payout ratio is currently 10.11%.

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.