Chemed Co. (NYSE:CHE) Stake Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC increased its position in shares of Chemed Co. (NYSE:CHE) by 245.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,166 shares of the company’s stock after purchasing an additional 7,223 shares during the quarter. Lazard Asset Management LLC owned 0.07% of Chemed worth $5,385,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in Chemed by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 457 shares of the company’s stock worth $242,000 after purchasing an additional 22 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in Chemed by 64.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after buying an additional 22 shares during the period. CIBC Private Wealth Group LLC increased its position in Chemed by 13.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company’s stock worth $98,000 after buying an additional 22 shares during the period. Independent Advisor Alliance increased its position in Chemed by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock worth $1,207,000 after buying an additional 25 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Chemed by 7.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 498 shares of the company’s stock worth $264,000 after buying an additional 33 shares during the period. 95.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Spencer S. Lee sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $577.86, for a total transaction of $866,790.00. Following the transaction, the executive vice president now directly owns 16,127 shares of the company’s stock, valued at approximately $9,319,148.22. This trade represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the transaction, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. This represents a 1.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,000 shares of company stock valued at $3,534,135. Company insiders own 3.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CHE shares. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Royal Bank of Canada increased their target price on Chemed from $667.00 to $674.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th.

Chemed Price Performance

Shares of NYSE CHE opened at $565.83 on Friday. The firm has a market capitalization of $8.28 billion, a PE ratio of 28.59, a P/E/G ratio of 2.15 and a beta of 0.59. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $623.61. The business’s fifty day moving average price is $586.60 and its two-hundred day moving average price is $564.22.

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

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 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.