Royal Bank of Canada Issues Pessimistic Forecast for Chemed (NYSE:CHE) Stock Price

Chemed (NYSE:CHE) had its price target lowered by Royal Bank of Canada from $697.00 to $633.00 in a research note issued to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Chemed Price Performance

Chemed stock traded up $2.55 during mid-day trading on Tuesday, hitting $557.27. The company’s stock had a trading volume of 1,487 shares, compared to its average volume of 85,626. The business has a 50 day moving average price of $582.73 and a 200-day moving average price of $566.54. Chemed has a 12 month low of $523.33 and a 12 month high of $654.62. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.46.

Chemed (NYSE:CHE) last issued its earnings results 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). The company had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.32 earnings per share. On average, equities research analysts expect that Chemed will post 21.43 earnings per share for the current fiscal year.

Insider Activity at Chemed

In other Chemed news, EVP Nicholas Michael Westfall sold 1,713 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at approximately $3,478,159.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly 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 sale 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 the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total value 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,144 shares of company stock worth $3,002,419 in the last three months. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemed

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Chemed by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock valued at $47,000 after acquiring an additional 22 shares during the period. American National Bank & Trust bought a new stake in Chemed during the 3rd quarter worth approximately $61,000. EntryPoint Capital LLC lifted its holdings in Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock valued at $94,000 after purchasing an additional 18 shares in the last quarter. Mather Group LLC. increased its stake in 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 in the last quarter. Finally, Quarry LP lifted its holdings in Chemed by 721.7% in the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after purchasing an additional 166 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.