Chemed Corporation $CHE Stock Sold by Formidable Asset Management LLC

Formidable Asset Management LLC decreased its holdings in shares of Chemed Corporation (NYSE:CHE) by 7.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,148 shares of the company’s stock after selling 1,000 shares during the quarter. Chemed makes up 0.8% of Formidable Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Formidable Asset Management LLC’s holdings in Chemed were worth $5,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quantbot Technologies LP purchased a new position in Chemed during the second quarter valued at approximately $1,726,000. The Manufacturers Life Insurance Company acquired a new position in Chemed in the 2nd quarter valued at approximately $4,413,000. Lone Peak Global Investors LLC increased its stake in Chemed by 38.1% in the 2nd quarter. Lone Peak Global Investors LLC now owns 37,099 shares of the company’s stock valued at $17,279,000 after buying an additional 10,226 shares during the period. Hsbc Holdings PLC increased its stake in Chemed by 41.7% in the 2nd quarter. Hsbc Holdings PLC now owns 12,346 shares of the company’s stock valued at $5,729,000 after buying an additional 3,632 shares during the period. Finally, Amundi lifted its position in Chemed by 51.5% in the 2nd quarter. Amundi now owns 53,856 shares of the company’s stock worth $25,083,000 after buying an additional 18,301 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHE. UBS Group lifted their target price on shares of Chemed from $650.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Bank of America reaffirmed a “neutral” rating on shares of Chemed in a research note on Wednesday, July 29th. Royal Bank Of Canada upped their price target on shares of Chemed from $548.00 to $585.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Wall Street Zen upgraded Chemed from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Finally, Weiss Ratings raised Chemed from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $603.00.

Insider Buying and Selling

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $537.90, for a total transaction of $1,075,800.00. Following the transaction, the chief executive officer owned 82,220 shares in the company, valued at $44,226,138. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 920 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $537.17, for a total transaction of $494,196.40. Following the transaction, the executive vice president owned 13,931 shares in the company, valued at approximately $7,483,315.27. This trade represents a 6.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,920 shares of company stock valued at $5,223,056 over the last quarter. Corporate insiders own 3.33% of the company’s stock.

Chemed Stock Down 1.4%

Shares of Chemed stock opened at $526.43 on Friday. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 2.01 and a beta of 0.50. The stock has a 50-day simple moving average of $514.46 and a 200-day simple moving average of $465.08. Chemed Corporation has a 52-week low of $365.20 and a 52-week high of $562.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.11 and a quick ratio of 1.08.

Chemed (NYSE:CHE) last released its quarterly earnings data on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, topping analysts’ consensus estimates of $6.44 by $0.31. Chemed had a return on equity of 35.18% and a net margin of 10.61%. The firm had revenue of $690.94 million for the quarter, compared to the consensus estimate of $685.04 million. During the same quarter in the prior year, the company posted $5.27 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that Chemed Corporation will post 24.05 earnings per share for the current fiscal year.

Chemed Company Profile

Chemed Corporation (NYSE:CHE) is a Cincinnati, Ohio-based company that provides healthcare and residential and commercial services through two operating businesses: VITAS Healthcare and Roto-Rooter. Its operations serve customers primarily in the United States, with Roto-Rooter also providing services in Canada.

VITAS Healthcare is a provider of hospice and palliative care for individuals with advanced illnesses. The business delivers care in patients’ homes, hospice inpatient units, hospitals, nursing facilities and other care settings.