Chemed (NYSE:CHE) Price Target Raised to $667.00

Chemed (NYSE:CHE) had its target price raised by Royal Bank of Canada from $633.00 to $667.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th.

Chemed Stock Performance

Shares of CHE opened at $598.15 on Friday. The stock has a 50-day moving average of $560.28 and a two-hundred day moving average of $564.74. The stock has a market cap of $8.76 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.15 and a beta of 0.43. Chemed has a one year low of $512.12 and a one year high of $654.62.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date was Monday, February 24th. Chemed’s dividend payout ratio is currently 10.05%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $593.67, for a total value of $1,187,340.00. Following the sale, the chief executive officer now owns 102,679 shares in the company, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian C. Judkins bought 145 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $519.50 per share, with a total value of $75,327.50. Following the completion of the acquisition, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. This represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company’s stock.

Institutional Trading of Chemed

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Chemed during the 4th quarter worth about $95,872,000. Freestone Grove Partners LP acquired a new position in Chemed in the 4th quarter worth about $61,664,000. Point72 Asset Management L.P. purchased a new position in Chemed during the fourth quarter worth approximately $54,587,000. Raymond James Financial Inc. acquired a new stake in Chemed in the fourth quarter valued at approximately $42,023,000. Finally, Citadel Advisors LLC increased its position in shares of Chemed by 197.4% in the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company’s stock valued at $40,870,000 after buying an additional 51,206 shares in the last quarter. 95.85% of the stock is 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.