Royal Bank of Canada Raises Chemed (NYSE:CHE) Price Target to $674.00

Chemed (NYSE:CHE) had its price objective increased by stock analysts at Royal Bank of Canada from $667.00 to $674.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 17.10% from the stock’s current price.

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

Chemed Stock Up 1.7 %

Shares of CHE stock opened at $575.58 on Monday. Chemed has a fifty-two week low of $512.12 and a fifty-two week high of $623.61. The business has a fifty day simple moving average of $588.34 and a 200-day simple moving average of $566.62. The stock has a market cap of $8.41 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.15 and a beta of 0.49.

Chemed (NYSE:CHE) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. During the same period in the prior year, the business earned $5.20 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Chemed will post 21.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kevin J. Mcnamara sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the transaction, the chief executive officer now owns 101,679 shares of the company’s stock, valued at approximately $62,566,139.07. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.29% of the stock is owned by corporate insiders.

Institutional Trading of Chemed

Several institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC boosted its holdings in Chemed by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 501,562 shares of the company’s stock valued at $265,726,000 after acquiring an additional 5,809 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Chemed by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company’s stock worth $180,654,000 after purchasing an additional 4,966 shares during the period. FMR LLC raised its holdings in shares of Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company’s stock worth $150,352,000 after purchasing an additional 45,174 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Chemed by 8.2% in the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company’s stock valued at $141,343,000 after purchasing an additional 20,310 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Chemed by 5.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 252,237 shares of the company’s stock worth $133,635,000 after purchasing an additional 12,167 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

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.