Meeder Asset Management Inc. cut its holdings in Chemed Co. (NYSE:CHE) by 26.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,516 shares of the company’s stock after selling 905 shares during the period. Meeder Asset Management Inc.’s holdings in Chemed were worth $804,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CHE. Fort L.P. bought a new stake in Chemed in the 2nd quarter valued at about $120,000. Cerebellum GP LLC bought a new stake in Chemed in the 3rd quarter valued at about $148,000. Tower Research Capital LLC TRC increased its position in Chemed by 70.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 544 shares of the company’s stock valued at $175,000 after buying an additional 224 shares in the last quarter. We Are One Seven LLC bought a new stake in Chemed in the 3rd quarter valued at about $228,000. Finally, Hollencrest Capital Management bought a new stake in Chemed in the 3rd quarter valued at about $231,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

In other Chemed news, Director Donald E. Saunders sold 300 shares of Chemed stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $308.74, for a total transaction of $92,622.00. Following the completion of the transaction, the director now owns 8,251 shares in the company, valued at approximately $2,547,413.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Naomi C. Dallob sold 5,500 shares of Chemed stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $317.23, for a total value of $1,744,765.00. Following the transaction, the vice president now owns 11,122 shares of the company’s stock, valued at approximately $3,528,232.06. The disclosure for this sale can be found here. Insiders have sold a total of 18,806 shares of company stock valued at $5,902,345 in the last quarter. Company insiders own 4.90% of the company’s stock.

CHE has been the subject of a number of analyst reports. ValuEngine downgraded Chemed from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Chemed from a “hold” rating to a “buy” rating and set a $350.00 price target for the company in a research note on Tuesday, July 31st. Bank of America initiated coverage on Chemed in a research note on Friday, October 12th. They set a “buy” rating and a $390.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Chemed to $321.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $334.00.

CHE stock opened at $317.56 on Friday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 1.11. Chemed Co. has a 52-week low of $227.14 and a 52-week high of $335.99.

Chemed (NYSE:CHE) last released its quarterly earnings results on Monday, October 29th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.27. The business had revenue of $444.15 million during the quarter, compared to the consensus estimate of $445.16 million. Chemed had a return on equity of 35.13% and a net margin of 11.73%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 EPS. On average, analysts forecast that Chemed Co. will post 11.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. Chemed’s dividend payout ratio (DPR) is currently 22.39%.

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Chemed Company Profile

Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its 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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