Putnam Investments LLC Increases Stock Position in Chemed Co. (NYSE:CHE)

Putnam Investments LLC raised its holdings in Chemed Co. (NYSE:CHE) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,515 shares of the company’s stock after purchasing an additional 240 shares during the period. Putnam Investments LLC owned 0.11% of Chemed worth $6,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Chemed by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 179,904 shares of the company’s stock worth $50,963,000 after purchasing an additional 10,060 shares during the last quarter. SG Americas Securities LLC boosted its stake in Chemed by 147.1% during the 1st quarter. SG Americas Securities LLC now owns 1,463 shares of the company’s stock valued at $468,000 after acquiring an additional 871 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Chemed during the 1st quarter valued at $203,000. State Board of Administration of Florida Retirement System boosted its stake in Chemed by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,260 shares of the company’s stock valued at $4,244,000 after acquiring an additional 100 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Chemed by 3.4% in the 1st quarter. Raymond James & Associates now owns 4,978 shares of the company’s stock worth $1,593,000 after buying an additional 164 shares during the last quarter. 87.12% of the stock is currently owned by institutional investors and hedge funds.

CHE traded up $1.06 during trading on Friday, reaching $426.32. 96,598 shares of the company’s stock were exchanged, compared to its average volume of 111,213. Chemed Co. has a fifty-two week low of $260.03 and a fifty-two week high of $441.79. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $425.92 and a 200 day moving average price of $362.31. The company has a market capitalization of $6.74 billion, a P/E ratio of 35.74, a PEG ratio of 2.88 and a beta of 1.13.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.27. The business had revenue of $473.60 million for the quarter, compared to the consensus estimate of $471.72 million. Chemed had a net margin of 10.94% and a return on equity of 35.63%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. As a group, research analysts forecast that Chemed Co. will post 13.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Chemed’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.30%. Chemed’s dividend payout ratio is 10.73%.

In related news, insider Kevin J. Mcnamara sold 5,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $432.73, for a total value of $2,163,650.00. Following the sale, the insider now owns 134,712 shares in the company, valued at approximately $58,293,923.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Patrick Williams sold 17,979 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $430.80, for a total value of $7,745,353.20. Following the completion of the sale, the insider now owns 34,850 shares in the company, valued at approximately $15,013,380. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,812 shares of company stock valued at $20,005,507. 3.96% of the stock is currently owned by company insiders.

Several equities analysts have commented on CHE shares. Bank of America raised their target price on shares of Chemed from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Oppenheimer raised their target price on shares of Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. ValuEngine upgraded shares of Chemed from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Finally, Royal Bank of Canada raised their price target on shares of Chemed to $405.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Chemed currently has an average rating of “Hold” and an average price target of $411.25.

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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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