Axxcess Wealth Management LLC Trims Holdings in Chemed Co. (NYSE:CHE)

Axxcess Wealth Management LLC reduced its position in shares of Chemed Co. (NYSE:CHE) by 61.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401 shares of the company’s stock after selling 639 shares during the period. Axxcess Wealth Management LLC’s holdings in Chemed were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CHE. Chicago Capital LLC purchased a new position in shares of Chemed during the 4th quarter worth $1,170,000. Raymond James & Associates grew its holdings in Chemed by 5.7% in the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock valued at $39,715,000 after purchasing an additional 3,654 shares during the period. Ontario Teachers Pension Plan Board increased its position in Chemed by 229.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock worth $3,110,000 after purchasing an additional 4,166 shares during the last quarter. Trust Point Inc. acquired a new position in shares of Chemed in the 4th quarter valued at $2,325,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Chemed by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock valued at $50,585,000 after buying an additional 1,283 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Oppenheimer raised their target price on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada upped their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th.

Chemed Stock Up 0.2 %

CHE opened at $574.13 on Friday. The firm has a market capitalization of $8.69 billion, a P/E ratio of 30.90, a P/E/G ratio of 2.29 and a beta of 0.46. The firm’s 50 day moving average is $617.63 and its 200-day moving average is $594.25. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The firm had revenue of $589.23 million during the quarter, compared to analysts’ expectations of $587.18 million. Equities analysts expect that Chemed Co. will post 21.72 earnings per share for the current fiscal year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is currently 8.61%.

Insider Activity at Chemed

In related news, EVP Spencer S. Lee sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The disclosure for this sale can be found here. Insiders have sold 15,808 shares of company stock valued at $10,184,531 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Chemed 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.