Balyasny Asset Management L.P. Makes New Investment in Chemed Co. (NYSE:CHE)

Balyasny Asset Management L.P. bought a new stake in shares of Chemed Co. (NYSE:CHE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,943 shares of the company’s stock, valued at approximately $8,976,000. Balyasny Asset Management L.P. owned about 0.11% of Chemed as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BLI Banque de Luxembourg Investments purchased a new position in shares of Chemed in the 4th quarter worth $14,783,000. Algert Global LLC increased its stake in Chemed by 1.2% during the fourth quarter. Algert Global LLC now owns 23,375 shares of the company’s stock worth $12,384,000 after acquiring an additional 275 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Chemed by 22.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 40,695 shares of the company’s stock worth $21,561,000 after purchasing an additional 7,327 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Chemed by 112.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,460 shares of the company’s stock worth $5,542,000 after buying an additional 5,548 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Chemed during the fourth quarter worth $61,664,000. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Stock Up 0.7 %

CHE opened at $572.90 on Friday. The business has a fifty day moving average of $589.27 and a 200 day moving average of $565.29. The stock has a market cap of $8.38 billion, a P/E ratio of 28.95, a PEG ratio of 2.15 and a beta of 0.59. Chemed Co. has a 52-week low of $512.12 and a 52-week high of $623.61.

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

Chemed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s dividend payout ratio (DPR) is presently 9.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CHE shares. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Royal Bank of Canada raised their price objective on shares of Chemed from $667.00 to $674.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th.

Insider Activity

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

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 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.