Comerica Bank Cuts Stock Holdings in Chemed Co. (NYSE:CHE)

Comerica Bank trimmed its position in shares of Chemed Co. (NYSE:CHE) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,703 shares of the company’s stock after selling 324 shares during the period. Comerica Bank’s holdings in Chemed were worth $3,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CHE. Krane Funds Advisors LLC purchased a new stake in Chemed in the 2nd quarter worth $26,000. Advisory Services Network LLC increased its holdings in Chemed by 117.9% in the 2nd quarter. Advisory Services Network LLC now owns 85 shares of the company’s stock worth $30,000 after acquiring an additional 46 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Chemed by 152.9% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 177 shares of the company’s stock worth $64,000 after acquiring an additional 107 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Chemed in the 2nd quarter worth $92,000. Finally, Panagora Asset Management Inc. increased its holdings in Chemed by 613.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 364 shares of the company’s stock worth $131,000 after acquiring an additional 313 shares in the last quarter. 87.78% of the stock is owned by hedge funds and other institutional investors.

Chemed stock opened at $406.26 on Friday. Chemed Co. has a 52-week low of $260.03 and a 52-week high of $441.79. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 2.81 and a beta of 1.10. The company has a fifty day simple moving average of $413.24 and a 200-day simple moving average of $384.15. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.32.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, October 29th. The company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.31 by $0.15. Chemed had a net margin of 11.14% and a return on equity of 35.06%. The business had revenue of $480.61 million during the quarter, compared to analyst estimates of $478.89 million. During the same quarter in the prior year, the firm earned $3.07 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that Chemed Co. will post 13.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, November 7th. Chemed’s payout ratio is 10.73%.

Several equities research analysts recently commented on CHE shares. Bank of America boosted their price target on shares of Chemed from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, September 6th. ValuEngine raised shares of Chemed from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Oppenheimer boosted their price target on shares of Chemed from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted 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. Finally, JMP Securities raised shares of Chemed from a “market perform” rating to an “outperform” rating and set a $490.00 price target for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Chemed has a consensus rating of “Hold” and an average price target of $427.00.

In other news, VP Naomi C. Dallob sold 2,300 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $413.00, for a total transaction of $949,900.00. Following the transaction, the vice president now owns 8,486 shares of the company’s stock, valued at approximately $3,504,718. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Walter L. Krebs sold 2,910 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $430.41, for a total transaction of $1,252,493.10. Following the transaction, the director now directly owns 9,318 shares in the company, valued at approximately $4,010,560.38. The disclosure for this sale can be found here. Insiders have sold 45,335 shares of company stock valued at $19,364,682 in the last ninety days. Insiders own 3.96% of the company’s stock.

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 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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