Chemed Corporation $CHE Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC reduced its position in shares of Chemed Corporation (NYSE:CHE) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,148 shares of the company’s stock after selling 1,000 shares during the quarter. Chemed comprises 0.8% of Formidable Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Formidable Asset Management LLC owned about 0.09% of Chemed worth $5,708,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Chemed in the 2nd quarter worth $691,290,000. First Trust Advisors LP raised its position in Chemed by 24.7% in the first quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after acquiring an additional 46,791 shares in the last quarter. Copeland Capital Management LLC raised its position in Chemed by 1.3% in the third quarter. Copeland Capital Management LLC now owns 146,833 shares of the company’s stock worth $74,162,000 after acquiring an additional 1,826 shares in the last quarter. Bank of America Corp DE bought a new stake in Chemed in the second quarter worth about $48,255,000. Finally, Caisse de depot et placement du Quebec bought a new stake in Chemed in the second quarter worth about $44,309,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chemed

In other Chemed news, EVP Spencer Lee sold 920 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $537.17, for a total value of $494,196.40. Following the completion of the transaction, the executive vice president directly owned 13,931 shares in the company, valued at $7,483,315.27. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin McNamara sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $537.90, for a total transaction of $1,075,800.00. Following the completion of the transaction, the chief executive officer owned 82,220 shares of the company’s stock, valued at approximately $44,226,138. The trade was a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,920 shares of company stock valued at $5,223,056 over the last ninety days. Insiders own 3.33% of the company’s stock.

Chemed Trading Down 1.4%

Shares of NYSE CHE opened at $526.43 on Friday. Chemed Corporation has a 12 month low of $365.20 and a 12 month high of $562.24. The company 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 company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $514.46 and a 200-day simple moving average of $465.08.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Chemed from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $520.00 to $620.00 in a research note on Wednesday, October 28th. Wall Street Zen upgraded shares of Chemed from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Bank of America reissued a “neutral” rating on shares of Chemed in a research note on Wednesday, July 29th. Finally, UBS Group increased 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $603.00.

Chemed 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.