Cynosure Group LLC Sells 59 Shares of Chemed Co. (NYSE:CHE)

Cynosure Group LLC lowered its stake in Chemed Co. (NYSE:CHE) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 557 shares of the company’s stock after selling 59 shares during the quarter. Cynosure Group LLC’s holdings in Chemed were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Chemed in the 4th quarter worth $42,023,000. HighTower Advisors LLC grew its stake in shares of Chemed by 78.0% during the 3rd quarter. HighTower Advisors LLC now owns 3,730 shares of the company’s stock valued at $2,246,000 after purchasing an additional 1,634 shares during the period. XTX Topco Ltd increased its position in shares of Chemed by 111.5% during the 3rd quarter. XTX Topco Ltd now owns 2,843 shares of the company’s stock valued at $1,709,000 after purchasing an additional 1,499 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Chemed by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock worth $201,820,000 after purchasing an additional 15,791 shares during the period. Finally, Signal Advisors Wealth LLC boosted its holdings in shares of Chemed by 60.7% in the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company’s stock worth $2,647,000 after buying an additional 1,886 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the sale, the chief executive officer now owns 101,679 shares in the company, valued at approximately $62,566,139.07. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.32% of the company’s stock.

Chemed Trading Up 0.8 %

Shares of NYSE:CHE opened at $619.47 on Friday. The stock has a 50 day moving average of $579.29 and a 200 day moving average of $567.98. The company has a market cap of $9.07 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $639.61.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Chemed’s dividend payout ratio (DPR) is presently 10.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHE. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada raised their target price on Chemed from $633.00 to $667.00 and gave the stock an “outperform” rating in a report on Friday, March 14th.

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.