Chemed Co. (NYSE:CHE) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in shares of Chemed Co. (NYSE:CHE) by 14.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 200,727 shares of the company’s stock after selling 33,047 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Chemed were worth $108,910,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Chemed by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,461 shares of the company’s stock worth $40,401,000 after purchasing an additional 1,106 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Chemed by 24.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 722 shares of the company’s stock worth $392,000 after acquiring an additional 144 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Chemed by 2.7% in the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock worth $257,927,000 after acquiring an additional 12,705 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Chemed by 14.5% in the second quarter. Federated Hermes Inc. now owns 1,858 shares of the company’s stock worth $1,008,000 after acquiring an additional 236 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Chemed by 11.0% in the second quarter. Johnson Investment Counsel Inc. now owns 8,078 shares of the company’s stock worth $4,383,000 after acquiring an additional 800 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chemed

In related news, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at $3,478,159.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at $3,478,159.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $569.63, for a total transaction of $1,139,260.00. Following the completion of the transaction, the chief executive officer now owns 105,735 shares in the company, valued at approximately $60,229,828.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,744 shares of company stock worth $3,828,231. Company insiders own 3.32% of the company’s stock.

Chemed Stock Performance

CHE opened at $577.59 on Thursday. The company’s 50 day simple moving average is $567.45 and its 200 day simple moving average is $578.35. Chemed Co. has a 1 year low of $497.36 and a 1 year high of $654.62. The stock has a market capitalization of $8.74 billion, a PE ratio of 31.09, a P/E/G ratio of 2.31 and a beta of 0.44.

Chemed (NYSE:CHE) last released its earnings results on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.59 by ($0.12). Chemed had a return on equity of 29.21% and a net margin of 12.88%. The company had revenue of $595.88 million during the quarter, compared to analyst estimates of $599.20 million. During the same period in the prior year, the business posted $4.71 earnings per share. Chemed’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Chemed Co. will post 21.77 earnings per share for the current fiscal year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were issued a $0.50 dividend. This is a positive change from Chemed’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, August 12th. This represents a $2.00 annualized dividend and a yield of 0.35%. Chemed’s dividend payout ratio (DPR) is presently 10.76%.

About Chemed

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.