Oppenheimer Maintains Hold on Chemed Pending Details of Lawsuit

Oppenheimer has published a research report on Chemed Corporation

after seeing the company's stock trend downward today on the details of a lawsuit submitted in the US District Court in Dallas, Texas. In the report, Oppenheimer writes, "Shares of Chemed are down significantly today on the details of a qui tam lawsuit unsealed last week in the US District Court in Dallas, TX. The lawsuit alleges that Vitas conspired with two HMOs to admit their patients into hospice even though they weren't eligible under Medicare rules. In the same court, the DOJ is seeking internal Vitas documents, but said in a court filing that it is "not intervening at this time" in the whistleblower suit." Oppenheimer maintains its Outperform rating and $75 price target on Chemed, which is currently trading down $6.38 from yesterday's $57.52 closing price.