MML Investors Services LLC Lowers Holdings in Chemed Co. (NYSE:CHE)

MML Investors Services LLC cut its stake in Chemed Co. (NYSE:CHE) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,926 shares of the company’s stock after selling 1,055 shares during the quarter. MML Investors Services LLC’s holdings in Chemed were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC purchased a new position in shares of Chemed in the 3rd quarter valued at approximately $13,231,000. Schroder Investment Management Group grew its stake in shares of Chemed by 1,177.4% in the 3rd quarter. Schroder Investment Management Group now owns 45,755 shares of the company’s stock valued at $14,622,000 after purchasing an additional 42,173 shares during the last quarter. Credit Suisse AG grew its stake in shares of Chemed by 17.0% in the 3rd quarter. Credit Suisse AG now owns 32,441 shares of the company’s stock valued at $10,368,000 after purchasing an additional 4,724 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Chemed by 47.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 13,624 shares of the company’s stock valued at $4,360,000 after purchasing an additional 4,379 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Chemed by 125.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,500 shares of the company’s stock valued at $1,438,000 after buying an additional 2,500 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Spencer S. Lee sold 3,514 shares of Chemed stock in a transaction on Monday, February 25th. The stock was sold at an average price of $326.75, for a total transaction of $1,148,199.50. Following the completion of the transaction, the executive vice president now directly owns 31,710 shares of the company’s stock, valued at $10,361,242.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 5,000 shares of Chemed stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $323.47, for a total value of $1,617,350.00. Following the transaction, the chief executive officer now directly owns 155,094 shares of the company’s stock, valued at $50,168,256.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,599 shares of company stock valued at $4,754,381. 4.82% of the stock is currently owned by insiders.

A number of research firms recently weighed in on CHE. Royal Bank of Canada lifted their price target on Chemed from $313.00 to $318.00 and gave the company a “sector perform” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded Chemed from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Friday, January 4th.

Shares of Chemed stock traded up $1.63 during trading on Wednesday, reaching $327.45. The company’s stock had a trading volume of 135,900 shares, compared to its average volume of 130,174. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.80. Chemed Co. has a 12-month low of $260.03 and a 12-month high of $335.99. The company has a market cap of $5.05 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.80 and a beta of 1.20.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, February 20th. The company reported $3.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.08. Chemed had a return on equity of 36.06% and a net margin of 11.53%. The firm had revenue of $457.51 million for the quarter, compared to the consensus estimate of $460.50 million. During the same period in the previous year, the business earned $2.32 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chemed Co. will post 12.77 EPS for the current fiscal year.

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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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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