Chemed (NYSE:CHE) Given New $633.00 Price Target at Royal Bank of Canada

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

Chemed Stock Up 0.8 %

NYSE CHE opened at $559.06 on Tuesday. The company’s 50 day moving average is $582.20 and its 200-day moving average is $566.23. Chemed has a 12-month low of $523.33 and a 12-month high of $654.62. The firm has a market cap of $8.41 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.23 and a beta of 0.46.

Chemed (NYSE:CHE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $606.18 million during the quarter, compared to the consensus estimate of $612.22 million. During the same period last year, the firm earned $5.32 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts expect that Chemed will post 21.43 EPS for the current year.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’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 value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now owns 103,735 shares of the company’s stock, valued at $62,117,555.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’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 value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now owns 103,735 shares of the company’s stock, valued at $62,117,555.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the completion of the transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,144 shares of company stock valued at $3,002,419. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Chemed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Chemed in the 3rd quarter worth about $61,000. EntryPoint Capital LLC grew its position in shares of Chemed by 14.0% in the 1st quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after buying an additional 18 shares during the period. Mather Group LLC. grew its position 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 buying an additional 69 shares during the period. Finally, Quarry LP grew its position in Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after purchasing an additional 166 shares during the last quarter. 95.85% of the stock is currently owned by 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.