Raymond James Financial Services Advisors Inc. Trims Stock Holdings in Chemed Co. (NYSE:CHE)

Raymond James Financial Services Advisors Inc. trimmed its holdings in Chemed Co. (NYSE:CHE) by 13.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,727 shares of the company’s stock after selling 273 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Chemed were worth $803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates increased its holdings in Chemed by 7.6% during the 3rd quarter. Raymond James & Associates now owns 43,921 shares of the company’s stock worth $20,429,000 after purchasing an additional 3,109 shares during the period. Waratah Capital Advisors Ltd. increased its holdings in Chemed by 307.1% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 22,010 shares of the company’s stock worth $10,237,000 after purchasing an additional 16,604 shares during the period. New York State Common Retirement Fund increased its holdings in Chemed by 102.1% during the 3rd quarter. New York State Common Retirement Fund now owns 59,614 shares of the company’s stock worth $27,728,000 after purchasing an additional 30,114 shares during the period. Miracle Mile Advisors LLC increased its holdings in Chemed by 0.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 6,282 shares of the company’s stock worth $2,922,000 after purchasing an additional 58 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Chemed by 99.1% during the 3rd quarter. Nordea Investment Management AB now owns 31,946 shares of the company’s stock worth $15,120,000 after purchasing an additional 15,897 shares during the period. Hedge funds and other institutional investors own 87.98% of the company’s stock.

Shares of NYSE CHE opened at $485.52 on Friday. The stock has a market capitalization of $7.64 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.29 and a beta of 0.49. The stock’s fifty day simple moving average is $503.05 and its two-hundred day simple moving average is $478.73. Chemed Co. has a 12-month low of $403.00 and a 12-month high of $560.00.

Chemed (NYSE:CHE) last announced its earnings results on Thursday, October 28th. The company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.57. The business had revenue of $538.67 million for the quarter, compared to analysts’ expectations of $531.87 million. Chemed had a return on equity of 35.68% and a net margin of 14.43%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.86 EPS. As a group, analysts forecast that Chemed Co. will post 18.3 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 6th. Shareholders of record on Monday, November 15th were given a dividend of $0.36 per share. The ex-dividend date was Friday, November 12th. This represents a $1.44 annualized dividend and a yield of 0.30%. Chemed’s dividend payout ratio (DPR) is presently 7.57%.

Separately, Zacks Investment Research downgraded Chemed from a “buy” rating to a “hold” rating and set a $560.00 price objective on the stock. in a report on Wednesday, December 29th.

In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $489.13, for a total value of $978,260.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $485.06, for a total value of $2,910,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,800 shares of company stock worth $5,808,045 in the last ninety days. Insiders own 3.69% of the company’s stock.

Chemed Company Profile

Chemed Corp. engages in the provision of healthcare and maintenance services. It operates through the VITAS and Roto-Rooter segments. The VITAS segment offers hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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