Thrive Wealth Management LLC Buys Shares of 352 Chemed Co. (NYSE:CHE)

Thrive Wealth Management LLC purchased a new position in Chemed Co. (NYSE:CHE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 352 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Chemed during the fourth quarter worth $92,359,000. TD Asset Management Inc boosted its position in Chemed by 164.3% in the 4th quarter. TD Asset Management Inc now owns 205,777 shares of the company’s stock valued at $120,328,000 after buying an additional 127,934 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Chemed by 121.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock worth $118,760,000 after acquiring an additional 111,399 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Chemed during the fourth quarter worth approximately $430,970,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of Chemed by 85.2% during the fourth quarter. Epoch Investment Partners Inc. now owns 152,162 shares of the company’s stock valued at $88,977,000 after acquiring an additional 70,001 shares in the last quarter. 95.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CHE shares. Royal Bank of Canada dropped their price objective on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, Oppenheimer increased their target price on shares of Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th.

Chemed Trading Up 0.7 %

Shares of NYSE:CHE traded up $3.71 on Thursday, reaching $544.94. The company had a trading volume of 50,331 shares, compared to its average volume of 80,966. The firm has a market capitalization of $8.25 billion, a PE ratio of 29.33, a PEG ratio of 2.21 and a beta of 0.46. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62. The firm’s 50 day simple moving average is $558.49 and its 200-day simple moving average is $589.15.

Chemed (NYSE:CHE) last announced its earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The firm had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. As a group, equities research analysts predict that Chemed Co. will post 21.54 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.29%. The ex-dividend date was Thursday, May 30th. Chemed’s dividend payout ratio is currently 8.61%.

Insiders Place Their Bets

In related news, Director Patrick P. Grace sold 284 shares of Chemed stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the sale, the director now directly owns 3,270 shares in the company, valued at approximately $1,769,004.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the sale, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Patrick P. Grace sold 284 shares of Chemed stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total transaction of $153,638.32. Following the completion of the transaction, the director now directly owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,784 shares of company stock valued at $3,240,053. 3.32% of the stock is currently owned by insiders.

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.