Royal Bank of Canada Has Lowered Expectations for Chemed (NYSE:CHE) Stock Price

Chemed (NYSE:CHE) had its target price dropped by equities research analysts at Royal Bank of Canada from $697.00 to $633.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 15.09% from the company’s current price.

Chemed Price Performance

NYSE CHE opened at $549.99 on Tuesday. The company has a fifty day moving average of $583.24 and a two-hundred day moving average of $566.63. The company has a market capitalization of $8.28 billion, a PE ratio of 27.79, a P/E/G ratio of 2.16 and a beta of 0.46. Chemed has a 1 year low of $523.33 and a 1 year high of $654.62.

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

Insider Activity at Chemed

In other Chemed news, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s 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 transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. 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 the SEC website. In other news, Director Andrea R. Lindell sold 831 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $571.51, for a total transaction of $474,924.81. Following the completion of the sale, the director now owns 5,725 shares in the company, valued at $3,271,894.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 trade 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 worth $3,002,419 in the last 90 days. 3.32% of the stock is owned by insiders.

Institutional Trading of Chemed

Several hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in shares of Chemed by 300.3% during the second quarter. Thrivent Financial for Lutherans now owns 116,572 shares of the company’s stock worth $63,249,000 after acquiring an additional 87,449 shares during the period. International Assets Investment Management LLC acquired a new position in Chemed during the 3rd quarter worth approximately $437,150,000. Impax Asset Management Group plc raised its stake in shares of Chemed by 19.5% during the 2nd quarter. Impax Asset Management Group plc now owns 317,943 shares of the company’s stock worth $172,510,000 after buying an additional 51,974 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Chemed by 6,288.9% in the 1st 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. Finally, TD Asset Management Inc boosted its stake in shares of Chemed by 23.9% in the first quarter. TD Asset Management Inc now owns 254,953 shares of the company’s stock valued at $163,662,000 after buying an additional 49,176 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Company Profile

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.