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

Chemed (NYSE:CHE) had its price objective cut by Royal Bank of Canada from $697.00 to $633.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Chemed Stock Performance

Shares of Chemed stock traded up $2.55 during mid-day trading on Tuesday, hitting $557.27. 1,487 shares of the stock were exchanged, compared to its average volume of 85,626. The company has a market capitalization of $8.39 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.23 and a beta of 0.46. The company has a 50-day simple moving average of $582.73 and a 200 day simple moving average of $566.54. Chemed has a 12 month low of $523.33 and a 12 month high of $654.62.

Chemed (NYSE:CHE) last posted its quarterly earnings data 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 business had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. During the same period in the prior year, the firm posted $5.32 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Chemed will post 21.43 EPS for the current year.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 owns 103,735 shares in the company, valued at $62,117,555.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total transaction of $975,296.55. Following the sale, the executive vice president now directly owns 6,109 shares in the company, valued at approximately $3,478,159.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,144 shares of company stock worth $3,002,419 over the last three months. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Chemed in the first quarter valued at $1,064,000. ProShare Advisors LLC increased its position in shares of Chemed by 6,288.9% during the first quarter. ProShare Advisors LLC now owns 50,600 shares of the company’s stock valued at $32,482,000 after buying an additional 49,808 shares during the period. Sei Investments Co. lifted its holdings in shares of Chemed by 4.5% in the first quarter. Sei Investments Co. now owns 41,336 shares of the company’s stock worth $26,535,000 after buying an additional 1,780 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Chemed in the first quarter worth about $4,512,000. Finally, Quantbot Technologies LP boosted its position in shares of Chemed by 167.3% in the first quarter. Quantbot Technologies LP now owns 2,999 shares of the company’s stock valued at $1,925,000 after acquiring an additional 1,877 shares during the period. 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.