Chemed Co. (NYSE:CHE) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management increased its holdings in Chemed Co. (NYSE:CHE) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,321 shares of the company’s stock after acquiring an additional 1,218 shares during the quarter. Chemed makes up about 0.7% of Meritage Portfolio Management’s holdings, making the stock its 25th biggest position. Meritage Portfolio Management’s holdings in Chemed were worth $11,298,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CHE. GAMMA Investing LLC purchased a new position in Chemed during the fourth quarter worth about $37,000. Larson Financial Group LLC purchased a new position in Chemed in the 3rd quarter valued at approximately $44,000. Legacy Financial Group LLC purchased a new stake in Chemed during the third quarter worth $48,000. Covestor Ltd boosted its position in Chemed by 27.4% during the third quarter. Covestor Ltd now owns 144 shares of the company’s stock worth $75,000 after purchasing an additional 31 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Chemed in the third quarter valued at $126,000. Institutional investors and hedge funds own 95.85% of the company’s stock.

Insider Buying and Selling

In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Michael D. Witzeman sold 2,650 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the completion of the sale, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at approximately $1,853,529.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the sale, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,808 shares of company stock valued at $10,184,531. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHE shares. Royal Bank of Canada boosted their price objective on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th.

Chemed Trading Down 1.8 %

Shares of NYSE CHE traded down $10.16 during midday trading on Friday, reaching $563.18. 57,567 shares of the stock were exchanged, compared to its average volume of 79,493. The company has a market capitalization of $8.52 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.48 and a beta of 0.42. The stock has a 50 day moving average price of $623.76 and a 200-day moving average price of $590.54. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 31.69% and a net margin of 12.36%. The business had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. On average, analysts forecast that Chemed Co. will post 21.99 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.28%. Chemed’s payout ratio is 8.61%.

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.