Chemed (NYSE:CHE) Price Target Cut to $633.00 by Analysts 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 research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Chemed Trading Up 1.6 %

Chemed stock opened at $533.17 on Tuesday. The stock has a market cap of $8.02 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.16 and a beta of 0.46. The company has a fifty day simple moving average of $583.68 and a 200-day simple moving average of $566.74. Chemed has a 12-month low of $523.33 and a 12-month high of $654.62.

Chemed (NYSE:CHE) last released its quarterly earnings data 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 return on equity of 27.86% and a net margin of 12.69%. The firm had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. During the same period last year, the firm posted $5.32 earnings per share. Chemed’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Chemed will post 22.41 earnings per share for the current fiscal year.

Insider Activity at Chemed

In related news, Director Andrea R. Lindell sold 831 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $571.51, for a total value of $474,924.81. Following the completion of the sale, the director now directly owns 5,725 shares of the company’s stock, valued at $3,271,894.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chemed news, Director Andrea R. Lindell sold 831 shares of Chemed stock in a transaction on Friday, August 16th. The shares were sold at an average price of $571.51, for a total value of $474,924.81. Following the transaction, the director now directly owns 5,725 shares in the company, valued at approximately $3,271,894.75. The trade was 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 this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of Chemed stock in a transaction on Monday, September 9th. The shares were 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 owns 6,109 shares in the company, valued at approximately $3,478,159.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,144 shares of company stock valued at $3,002,419 over the last ninety days. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of Chemed by 34.4% during the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after acquiring an additional 22 shares during the period. American National Bank & Trust acquired a new position in shares of Chemed during the third quarter worth about $61,000. EntryPoint Capital LLC increased its stake in shares of 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 period. Mather Group LLC. increased its stake in shares of Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after acquiring an additional 69 shares during the period. Finally, Quarry LP increased its stake in shares of Chemed by 721.7% during the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after acquiring an additional 166 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

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.