Chemed Corporation $CHE Holdings Lowered by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Chemed stake by 24% in the third quarter, selling 9,809 shares and ending the period with 30,986 shares valued at about $15.65 million.
• Chemed reported quarterly EPS of $6.75, beating the $6.44 consensus, while revenue rose 10.6% year over year to $690.94 million.
• Executives sold shares during the quarter, while analysts’ consensus rating remained Hold with an average price target of $603.

Alps Advisors Inc. lowered its stake in Chemed Corporation (NYSE:CHE - Free Report) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,986 shares of the company's stock after selling 9,809 shares during the quarter. Alps Advisors Inc. owned about 0.24% of Chemed worth $15,650,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kestra Advisory Services LLC increased its stake in shares of Chemed by 115.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,273 shares of the company's stock valued at $1,653,000 after acquiring an additional 1,757 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Chemed by 5,700.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 58 shares of the company's stock valued at $29,000 after acquiring an additional 57 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in shares of Chemed in the 3rd quarter valued at approximately $240,000. Integrity Advisory Solutions LLC acquired a new stake in shares of Chemed in the 3rd quarter valued at approximately $218,000. Finally, First Nebraska Trust Co bought a new position in Chemed during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer owned 82,220 shares in the company, valued at approximately $44,226,138. This represents a 2.37% decrease in their ownership of the stock. 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 firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $537.17, for a total transaction of $494,196.40. Following the completion of the transaction, the executive vice president directly owned 13,931 shares of the company's stock, valued at approximately $7,483,315.27. This trade represents a 6.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,920 shares of company stock worth $5,223,056 over the last quarter. 3.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CHE has been the subject of several recent analyst reports. Wall Street Zen raised shares of Chemed from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 10th. Royal Bank Of Canada raised their price objective on Chemed from $548.00 to $585.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 29th. Oppenheimer lifted their target price on Chemed from $590.00 to $625.00 and gave the stock an "outperform" rating in a report on Thursday, October 29th. Bank of America reissued a "neutral" rating on shares of Chemed in a research note on Wednesday, July 29th. Finally, UBS Group boosted their target price on Chemed from $650.00 to $675.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Chemed currently has an average rating of "Hold" and an average price target of $603.00.

Chemed Price Performance

Shares of NYSE CHE opened at $526.43 on Friday. The firm has a market cap of $6.85 billion, a PE ratio of 25.19, a PEG ratio of 2.01 and a beta of 0.50. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. Chemed Corporation has a 1-year low of $365.20 and a 1-year high of $562.24. The company has a fifty day moving average price of $514.46 and a 200 day moving average price of $465.08.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $6.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.44 by $0.31. The firm had revenue of $690.94 million for the quarter, compared to the consensus estimate of $685.04 million. Chemed had a return on equity of 35.18% and a net margin of 10.61%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $5.27 EPS. Research analysts predict 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.

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