Elevate Capital Advisors LLC Makes New Investment in Chemed Co. (NYSE:CHE)

Elevate Capital Advisors LLC acquired a new stake in Chemed Co. (NYSE:CHE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,087 shares of the company’s stock, valued at approximately $1,106,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Chemed during the 3rd quarter worth about $437,150,000. FMR LLC grew its position in shares of Chemed by 23.8% during the third quarter. FMR LLC now owns 238,616 shares of the company’s stock worth $143,401,000 after buying an additional 45,917 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Chemed by 25.3% during the third quarter. Thrivent Financial for Lutherans now owns 146,017 shares of the company’s stock worth $87,752,000 after buying an additional 29,445 shares during the period. Aureus Asset Management LLC raised its holdings in Chemed by 3,147.2% in the third quarter. Aureus Asset Management LLC now owns 29,939 shares of the company’s stock valued at $17,993,000 after acquiring an additional 29,017 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Chemed by 143.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 42,267 shares of the company’s stock worth $25,401,000 after acquiring an additional 24,912 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Chemed Stock Down 0.6 %

CHE stock opened at $550.53 on Monday. The business has a 50 day moving average price of $543.17 and a 200 day moving average price of $564.72. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.16 and a beta of 0.48. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $654.62.

Insiders Place Their Bets

In other news, VP Brian C. Judkins bought 145 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares of the company’s stock, valued at approximately $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $572.77, for a total value of $1,145,540.00. Following the completion of the sale, the chief executive officer now directly owns 101,735 shares of the company’s stock, valued at approximately $58,270,755.95. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHE. Royal Bank of Canada dropped their price objective on shares of 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 raised Chemed from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

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.