Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Chemed Corporation (NYSE:CHE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Chemed Corporation (NYSE:CHE) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,550 shares of the company’s stock after acquiring an additional 144 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chemed were worth $2,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CHE. First Heartland Consultants Inc. raised its holdings in shares of Chemed by 6.7% in the first quarter. First Heartland Consultants Inc. now owns 673 shares of the company’s stock valued at $414,000 after acquiring an additional 42 shares in the last quarter. Stevens Capital Management LP purchased a new position in Chemed during the 1st quarter valued at about $220,000. Cetera Investment Advisers raised its holdings in shares of Chemed by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 1,715 shares of the company’s stock valued at $1,056,000 after purchasing an additional 100 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Chemed by 6.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,442 shares of the company’s stock worth $887,000 after purchasing an additional 88 shares during the period. Finally, Machina Capital S.A.S. purchased a new stake in shares of Chemed in the 1st quarter worth approximately $381,000. Institutional investors own 95.85% of the company’s stock.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 1,500 shares of the company’s 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 transaction, the chief executive officer owned 101,197 shares in the company, valued at $58,335,010.65. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the 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 completion of the transaction, the executive vice president directly owned 14,627 shares of the company’s stock, valued at $8,454,259.73. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,500 shares of company stock valued at $2,598,450. Corporate insiders own 3.29% of the company’s stock.

Chemed Stock Up 1.4%

NYSE:CHE opened at $418.08 on Friday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.21 and a beta of 0.50. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The firm has a 50 day moving average of $508.86 and a 200 day moving average of $552.72.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%. The business had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. During the same period in the previous year, the company posted $5.47 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed’s dividend payout ratio (DPR) is currently 10.28%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Oppenheimer cut their price objective on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank Of Canada dropped their target price on Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research report on Thursday. Wall Street Zen lowered Chemed from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Jefferies Financial Group started coverage on Chemed in a research note on Friday, July 25th. They set a “hold” rating and a $500.00 price objective for the company. Finally, Bank of America dropped their price objective on Chemed from $708.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $579.75.

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.