Pictet Asset Management Holding SA Lowers Position in Chemed Co. (NYSE:CHE)

Pictet Asset Management Holding SA trimmed its stake in shares of Chemed Co. (NYSE:CHE) by 24.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,541 shares of the company’s stock after selling 9,330 shares during the period. Pictet Asset Management Holding SA’s holdings in Chemed were worth $15,651,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CHE. UMB Bank n.a. grew its position in shares of Chemed by 300.0% during the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares in the last quarter. Atala Financial Inc purchased a new position in Chemed during the 4th quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC increased its stake in Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock worth $30,000 after acquiring an additional 22 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of Chemed during the 4th quarter worth approximately $34,000. Finally, Tortoise Investment Management LLC boosted its position in shares of Chemed by 77.3% during the 4th quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock valued at $41,000 after acquiring an additional 34 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Chemed Stock Performance

Shares of Chemed stock opened at $618.14 on Wednesday. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. The stock has a 50 day moving average price of $576.54 and a 200-day moving average price of $567.29. Chemed Co. has a one year low of $512.12 and a one year high of $639.61.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s payout ratio is 10.05%.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the sale, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. This represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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 upped their target price on shares of Chemed from $633.00 to $667.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

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.