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

Chemed (NYSE:CHE - Free Report) had its target price cut by Royal Bank of Canada from $697.00 to $633.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Chemed Stock Performance

CHE stock traded up $8.14 during midday trading on Tuesday, reaching $533.17. 109,236 shares of the company were exchanged, compared to its average volume of 85,647. The stock's 50-day simple moving average is $584.37 and its 200 day simple moving average is $567.22. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.46.

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

Insider Buying and Selling at Chemed

In other Chemed news, Director George J. Walsh III sold 200 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $577.95, for a total transaction of $115,590.00. Following the transaction, the director now directly owns 3,446 shares of the company's stock, valued at approximately $1,991,615.70. 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 related news, Director George J. Walsh III sold 200 shares of Chemed stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $577.95, for a total value of $115,590.00. Following the transaction, the director now directly owns 3,446 shares in the company, valued at $1,991,615.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Michael Westfall sold 1,713 shares of Chemed stock in a transaction on Monday, September 9th. The stock was sold at an average price of $569.35, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,144 shares of company stock worth $3,002,419. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Chemed

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP acquired a new stake in shares of Chemed in the third quarter worth approximately $300,000. Venturi Wealth Management LLC boosted its holdings in shares of Chemed by 59.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 425 shares of the company's stock valued at $255,000 after purchasing an additional 159 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Chemed by 30.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 17,723 shares of the company's stock worth $10,651,000 after buying an additional 4,136 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Chemed by 7.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 167,135 shares of the company's stock worth $100,443,000 after buying an additional 11,595 shares during the period. Finally, Legacy Capital Wealth Partners LLC grew its position in Chemed by 87.8% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,979 shares of the company's stock valued at $1,189,000 after acquiring an additional 925 shares during the period. Hedge funds and other institutional investors own 95.85% of the company's stock.

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.