Bridges Investment Management Inc. Acquires 36,813 Shares of Chemed Co. (NYSE:CHE)

Bridges Investment Management Inc. boosted its holdings in Chemed Co. (NYSE:CHE) by 110.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,080 shares of the company’s stock after purchasing an additional 36,813 shares during the quarter. Bridges Investment Management Inc.’s holdings in Chemed were worth $38,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CHE. Rise Advisors LLC bought a new stake in shares of Chemed in the 1st quarter worth approximately $26,000. GAMMA Investing LLC boosted its holdings in Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. Principal Securities Inc. bought a new stake in Chemed in the fourth quarter worth $51,000. Mather Group LLC. purchased a new stake in shares of Chemed in the first quarter worth $67,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock valued at $94,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 95.85% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at $3,478,159.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Nicholas Michael Westfall sold 1,713 shares of Chemed stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the completion of the sale, the executive vice president now directly owns 6,109 shares in the company, valued at approximately $3,478,159.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea R. Lindell sold 831 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $571.51, for a total value of $474,924.81. Following the completion of the transaction, the director now directly owns 5,725 shares of the company’s stock, valued at approximately $3,271,894.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,744 shares of company stock valued at $3,828,231. Corporate insiders own 3.32% of the company’s stock.

Chemed Price Performance

CHE opened at $585.93 on Friday. Chemed Co. has a 1 year low of $497.36 and a 1 year high of $654.62. The stock has a 50-day moving average price of $568.46 and a 200-day moving average price of $578.40. The firm has a market cap of $8.87 billion, a PE ratio of 31.54, a P/E/G ratio of 2.31 and a beta of 0.44.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.59 by ($0.12). Chemed had a return on equity of 29.21% and a net margin of 12.88%. The firm had revenue of $595.88 million during the quarter, compared to analysts’ expectations of $599.20 million. During the same period last year, the firm posted $4.71 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Chemed Co. will post 21.77 EPS for the current year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. This is an increase from Chemed’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, August 12th. Chemed’s dividend payout ratio (DPR) is currently 10.76%.

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.