Bridgewater Associates LP Lowers Stake in Chemed Co. (NYSE:CHE)

Bridgewater Associates LP trimmed its stake in Chemed Co. (NYSE:CHE - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,556 shares of the company's stock after selling 8,266 shares during the period. Bridgewater Associates LP owned about 0.14% of Chemed worth $12,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in Chemed by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company's stock valued at $47,000 after purchasing an additional 22 shares during the period. Ballentine Partners LLC raised its stake in Chemed by 4.1% in the third quarter. Ballentine Partners LLC now owns 655 shares of the company's stock worth $394,000 after buying an additional 26 shares in the last quarter. Everpar Advisors LLC lifted its holdings in Chemed by 4.9% during the second quarter. Everpar Advisors LLC now owns 580 shares of the company's stock worth $315,000 after buying an additional 27 shares during the period. Creative Planning boosted its position in Chemed by 2.8% during the 2nd quarter. Creative Planning now owns 1,228 shares of the company's stock valued at $667,000 after acquiring an additional 34 shares in the last quarter. Finally, First Heartland Consultants Inc. increased its holdings in shares of Chemed by 7.2% in the 3rd quarter. First Heartland Consultants Inc. now owns 508 shares of the company's stock valued at $305,000 after acquiring an additional 34 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Stock Performance

CHE stock traded up $1.80 on Friday, hitting $573.11. 45,670 shares of the company's stock were exchanged, compared to its average volume of 85,970. The firm has a 50 day moving average price of $578.45 and a two-hundred day moving average price of $565.06. Chemed Co. has a 12-month low of $523.33 and a 12-month high of $654.62. The stock has a market cap of $8.63 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing analysts' consensus estimates of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company had revenue of $606.18 million for the quarter, compared to analysts' expectations of $612.22 million. During the same period last year, the firm earned $5.32 earnings per share. Chemed's quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Chemed's dividend payout ratio is currently 10.11%.

Insider Buying and Selling

In other Chemed news, EVP Nicholas Michael Westfall sold 1,713 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the sale, the executive vice president now directly owns 6,109 shares of the company's stock, valued at approximately $3,478,159.15. This trade represents a 21.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now directly owns 103,735 shares of the company's stock, valued at approximately $62,117,555.35. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,845 shares of company stock worth $3,978,798. 3.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CHE shares. Royal Bank of Canada dropped their price objective on Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered shares of Chemed from a "buy" rating to a "hold" rating in a research note on Friday, November 22nd.

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.