Formidable Asset Management LLC Has $14.37 Million Stake in Chemed Co. (NYSE:CHE)

Formidable Asset Management LLC decreased its holdings in shares of Chemed Co. (NYSE:CHE - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,579 shares of the company's stock after selling 2,040 shares during the quarter. Chemed accounts for approximately 3.1% of Formidable Asset Management LLC's portfolio, making the stock its 5th largest position. Formidable Asset Management LLC owned about 0.16% of Chemed worth $14,373,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CHE. GAMMA Investing LLC bought a new position in shares of Chemed during the 4th quarter valued at about $37,000. Larson Financial Group LLC bought a new stake in shares of Chemed in the 3rd quarter worth approximately $44,000. Principal Securities Inc. bought a new stake in shares of Chemed in the 4th quarter worth approximately $51,000. SRS Capital Advisors Inc. boosted its stake in shares of Chemed by 110.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 99 shares of the company's stock valued at $58,000 after purchasing an additional 52 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Chemed by 27.4% during the 3rd quarter. Covestor Ltd now owns 144 shares of the company's stock valued at $75,000 after purchasing an additional 31 shares during the last quarter. 95.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHE has been the subject of several analyst reports. StockNews.com upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research report on Saturday, May 4th. Royal Bank of Canada raised their target price on shares of Chemed from $604.00 to $712.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Finally, Oppenheimer upped their price target on shares of Chemed from $625.00 to $650.00 and gave the company an "outperform" rating in a report on Thursday, February 29th.

Insiders Place Their Bets

In other news, VP Brian C. Judkins sold 11,158 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the completion of the transaction, the chief financial officer now owns 2,882 shares in the company, valued at $1,853,529.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the sale, the vice president now directly owns 1,422 shares in the company, valued at $917,190. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,808 shares of company stock worth $10,184,531. Company insiders own 3.32% of the company's stock.

Chemed Stock Up 0.2 %

Shares of CHE traded up $1.11 during mid-day trading on Friday, hitting $575.24. 123,051 shares of the company's stock traded hands, compared to its average volume of 92,378. The business's 50-day moving average price is $616.86 and its 200-day moving average price is $595.31. Chemed Co. has a 1 year low of $492.84 and a 1 year high of $654.62. The firm has a market capitalization of $8.71 billion, a P/E ratio of 30.96, a PEG ratio of 2.34 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The company had revenue of $589.23 million for the quarter, compared to analysts' expectations of $587.18 million. Sell-side analysts anticipate that Chemed Co. will post 21.72 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 annualized dividend and a yield of 0.28%. Chemed's payout ratio is 8.61%.

Chemed Company 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.

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