Voleon Capital Management LP Invests $1.14 Million in Chemed Co. (NYSE:CHE)

Voleon Capital Management LP acquired a new position in Chemed Co. (NYSE:CHE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,144 shares of the company’s stock, valued at approximately $1,136,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Chemed by 21.3% during the third quarter. Franklin Resources Inc. now owns 8,800 shares of the company’s stock valued at $5,282,000 after buying an additional 1,544 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Chemed by 11.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 880 shares of the company’s stock worth $466,000 after acquiring an additional 90 shares during the period. Nordea Investment Management AB grew its stake in Chemed by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 13,639 shares of the company’s stock valued at $7,242,000 after purchasing an additional 635 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Chemed by 18.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,188 shares of the company’s stock valued at $1,689,000 after purchasing an additional 496 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC increased its holdings in shares of Chemed by 21.9% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,150 shares of the company’s stock valued at $3,788,000 after purchasing an additional 1,285 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Chemed Price Performance

Shares of Chemed stock opened at $579.69 on Thursday. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $623.61. The stock has a market cap of $8.47 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.15 and a beta of 0.49. The stock’s 50 day simple moving average is $589.04 and its 200-day simple moving average is $566.71.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, topping the consensus estimate of $5.59 by $0.04. The firm had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $5.20 EPS. As a group, research analysts expect that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a $0.50 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.00 annualized dividend and a yield of 0.35%. Chemed’s dividend payout ratio is presently 9.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CHE shares. Royal Bank of Canada upped their price target on shares of Chemed from $667.00 to $674.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the transaction, the chief executive officer now owns 101,679 shares in the company, valued at $62,566,139.07. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.29% 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 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.