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

Chemed (NYSE:CHE) had its price target dropped by analysts at Royal Bank of Canada from $697.00 to $633.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.32% from the company’s previous close.

Chemed Trading Up 1.0 %

Shares of NYSE:CHE traded up $5.46 during trading on Tuesday, reaching $530.49. 8,851 shares of the company traded hands, compared to its average volume of 85,178. The business’s fifty day moving average is $584.37 and its 200-day moving average is $567.22. Chemed has a 52-week low of $523.33 and a 52-week high of $654.62. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 2.16 and a beta of 0.46.

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHE. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Chemed by 2.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock worth $314,868,000 after acquiring an additional 14,651 shares during the last quarter. William Blair Investment Management LLC increased its position in Chemed by 2.7% during the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock worth $257,927,000 after buying an additional 12,705 shares during the period. Impax Asset Management Group plc grew its stake in shares of Chemed by 4.7% in the 3rd quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock valued at $199,977,000 after purchasing an additional 14,814 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Chemed by 10.9% in the second quarter. TD Asset Management Inc now owns 282,753 shares of the company’s stock valued at $153,416,000 after buying an additional 27,800 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Chemed by 22.1% in the second quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company’s stock valued at $121,068,000 after buying an additional 40,358 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.