Brown Advisory Inc. Makes New Investment in Chemed Corporation (NYSE:CHE)

Brown Advisory Inc. purchased a new position in Chemed Corporation (NYSE:CHE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 401 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Chemed in the 1st quarter worth $29,000. HM Payson & Co. acquired a new stake in Chemed in the 1st quarter worth $30,000. Whipplewood Advisors LLC grew its position in Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 18 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Chemed by 633.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company’s stock worth $47,000 after purchasing an additional 76 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Chemed by 600.0% in the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company’s stock worth $60,000 after purchasing an additional 84 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the transaction, the chief executive officer directly owned 101,197 shares of the company’s stock, valued at $58,335,010.65. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president directly owned 14,627 shares of the company’s stock, valued at $8,454,259.73. This represents 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 over the last three months. 3.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CHE. Wall Street Zen lowered shares of Chemed from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Bank of America decreased their price target on shares of Chemed from $708.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, June 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $640.00 target price (down from $674.00) on shares of Chemed in a research report on Monday, June 30th.

Chemed Stock Performance

Shares of Chemed stock opened at $457.68 on Thursday. The firm’s 50-day simple moving average is $537.60 and its 200-day simple moving average is $559.38. Chemed Corporation has a twelve month low of $452.05 and a twelve month high of $623.61. The firm has a market cap of $6.70 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.18 and a beta of 0.50.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share 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 business had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. During the same period in the previous year, the business earned $5.20 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed’s dividend payout ratio is currently 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.