Verition Fund Management LLC Trims Stock Position in Chemed Co. (NYSE:CHE)

Verition Fund Management LLC trimmed its stake in Chemed Co. (NYSE:CHE) by 16.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 976 shares of the company’s stock after selling 197 shares during the period. Verition Fund Management LLC’s holdings in Chemed were worth $587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crawford Fund Management LLC purchased a new position in shares of Chemed during the third quarter worth about $4,297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Chemed by 7.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,920 shares of the company’s stock worth $27,597,000 after buying an additional 3,314 shares during the last quarter. Townsquare Capital LLC acquired a new position in Chemed during the third quarter worth approximately $4,115,000. BNP Paribas Financial Markets increased its position in Chemed by 36.2% during the third quarter. BNP Paribas Financial Markets now owns 26,381 shares of the company’s stock worth $15,854,000 after buying an additional 7,007 shares during the period. Finally, FMR LLC lifted its stake in Chemed by 23.8% in the third quarter. FMR LLC now owns 238,616 shares of the company’s stock valued at $143,401,000 after buying an additional 45,917 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Chemed Trading Down 0.3 %

Shares of CHE stock opened at $546.24 on Wednesday. Chemed Co. has a twelve month low of $523.33 and a twelve month high of $654.62. The business’s 50 day moving average is $572.96 and its two-hundred day moving average is $564.91. The company has a market capitalization of $8.22 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm posted $5.32 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $0.50 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Chemed’s payout ratio is currently 10.11%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CHE. Royal Bank of Canada cut their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Insider Buying and Selling at Chemed

In related news, EVP Spencer S. Lee sold 732 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the transaction, the executive vice president now owns 18,287 shares of the company’s stock, valued at $10,526,362.94. This represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George J. Walsh III sold 400 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the sale, the director now directly owns 3,046 shares of the company’s stock, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,132 shares of company stock valued at $3,003,502. 3.32% of the stock is owned by corporate insiders.

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.