Edgestream Partners L.P. Has $6.26 Million Position in Chemed Co. (NYSE:CHE)

Edgestream Partners L.P. lessened its position in Chemed Co. (NYSE:CHE) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,411 shares of the company’s stock after selling 3,229 shares during the period. Edgestream Partners L.P.’s holdings in Chemed were worth $6,257,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Chemed by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock valued at $314,868,000 after buying an additional 14,651 shares in the last quarter. William Blair Investment Management LLC grew its stake in Chemed by 2.7% in the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock valued at $257,927,000 after acquiring an additional 12,705 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Chemed by 4.7% in the third quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock worth $199,977,000 after acquiring an additional 14,814 shares in the last quarter. TD Asset Management Inc raised its position in shares of Chemed by 10.9% during the second quarter. TD Asset Management Inc now owns 282,753 shares of the company’s stock worth $153,416,000 after purchasing an additional 27,800 shares during the period. Finally, FMR LLC lifted its holdings in shares of Chemed by 23.8% during the 3rd quarter. FMR LLC now owns 238,616 shares of the company’s stock valued at $143,401,000 after purchasing an additional 45,917 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated 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 in the company, valued at $62,117,555.35. This represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the completion of the transaction, the executive vice president now owns 6,109 shares of the company’s stock, valued at $3,478,159.15. The trade was a 21.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,845 shares of company stock valued at $3,978,798. Corporate insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

CHE has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday.

Chemed Price Performance

CHE opened at $573.11 on Friday. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 2.42 and a beta of 0.46. The business’s 50-day moving average price is $578.27 and its two-hundred day moving average price is $565.09. Chemed Co. has a 1 year low of $523.33 and a 1 year high of $654.62.

Chemed (NYSE:CHE) last announced its 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). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. During the same period in the prior year, the business posted $5.32 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

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

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.