Cresset Asset Management LLC Reduces Stock Holdings in Chemed Co. (NYSE:CHE)

Cresset Asset Management LLC cut its stake in shares of Chemed Co. (NYSE:CHE) by 72.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 448 shares of the company’s stock after selling 1,187 shares during the period. Cresset Asset Management LLC’s holdings in Chemed were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHE. BOKF NA lifted its position in shares of Chemed by 52.4% during the fourth quarter. BOKF NA now owns 2,536 shares of the company’s stock worth $1,323,000 after purchasing an additional 872 shares in the last quarter. Citadel Advisors LLC increased its stake in Chemed by 197.4% during the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company’s stock worth $40,870,000 after buying an additional 51,206 shares during the period. Baird Financial Group Inc. increased its stake in Chemed by 6.1% during the 4th quarter. Baird Financial Group Inc. now owns 1,352 shares of the company’s stock worth $716,000 after buying an additional 78 shares during the period. Balyasny Asset Management L.P. acquired a new position in Chemed in the 4th quarter worth $8,976,000. Finally, BLI Banque de Luxembourg Investments purchased a new position in Chemed in the 4th quarter valued at about $14,783,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Trading Up 2.4%

Shares of NYSE:CHE opened at $579.48 on Friday. The firm has a market cap of $8.48 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. The company has a fifty day simple moving average of $586.22 and a 200 day simple moving average of $564.20. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $623.61.

Chemed (NYSE:CHE) last released its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the previous year, the firm earned $5.20 EPS. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Chemed Co. will post 21.43 EPS for the current fiscal year.

Insider Activity at Chemed

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $577.86, for a total value of $866,790.00. Following the completion of the transaction, the executive vice president now owns 16,127 shares of the company’s stock, valued at $9,319,148.22. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $3,534,135 over the last three months. 3.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHE. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Royal Bank of Canada raised their price objective on Chemed from $667.00 to $674.00 and gave the company an “outperform” rating in a research note on Monday, April 28th.

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.