Royal Bank of Canada Lowers Chemed (NYSE:CHE) Price Target to $633.00

Chemed (NYSE:CHE) had its price objective lowered by equities researchers at Royal Bank of Canada from $697.00 to $633.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.09% from the stock’s current price.

Chemed Price Performance

Shares of CHE opened at $549.99 on Tuesday. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62. The firm has a 50 day simple moving average of $583.24 and a 200-day simple moving average of $566.63. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.16 and a beta of 0.46.

Chemed (NYSE:CHE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The company had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. During the same period in the previous year, the business posted $5.32 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that Chemed will post 22.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the completion of the sale, the chief executive officer now directly owns 103,735 shares in the company, valued at $62,117,555.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director George J. Walsh III sold 400 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the transaction, the director now directly owns 3,046 shares in the company, valued at approximately $1,819,893.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the completion of the sale, the chief executive officer now directly owns 103,735 shares in the company, valued at approximately $62,117,555.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,144 shares of company stock worth $3,002,419. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHE. GAMMA Investing LLC increased its holdings in shares of Chemed by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after buying an additional 22 shares during the last quarter. American National Bank & Trust acquired a new stake in Chemed during the third quarter worth about $61,000. EntryPoint Capital LLC increased its stake in Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after acquiring an additional 18 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Chemed by 60.5% in the 2nd quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after purchasing an additional 69 shares during the period. Finally, Quarry LP lifted its stake in shares of Chemed by 721.7% in the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after purchasing an additional 166 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

About Chemed

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.