Royal Bank Of Canada Cuts Chemed (NYSE:CHE) Price Target to $572.00

Chemed (NYSE:CHE) had its target price lowered by equities research analysts at Royal Bank Of Canada from $589.00 to $572.00 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 target price would suggest a potential upside of 35.24% from the stock’s previous close.

Several other analysts also recently issued reports on CHE. Bank of America lowered their price objective on shares of Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Zacks Research upgraded Chemed from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and upped their price target for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Finally, Oppenheimer decreased their price objective on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $574.25.

Chemed Trading Down 2.7%

Shares of NYSE:CHE traded down $11.65 on Monday, hitting $422.97. The company had a trading volume of 53,903 shares, compared to its average volume of 153,165. Chemed has a 52-week low of $408.42 and a 52-week high of $623.60. The business has a 50 day moving average of $445.94 and a 200 day moving average of $487.16. The company has a market cap of $5.99 billion, a PE ratio of 22.41, a PEG ratio of 2.69 and a beta of 0.43.

Chemed (NYSE:CHE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.12). The business had revenue of $624.90 million for the quarter, compared to analyst estimates of $626.04 million. Chemed had a net margin of 11.02% and a return on equity of 25.89%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $5.64 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. As a group, equities analysts predict that Chemed will post 21.43 EPS for the current year.

Insider Activity at Chemed

In other news, CEO Kevin J. Mcnamara sold 3,000 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $461.28, for a total value of $1,383,840.00. Following the completion of the sale, the chief executive officer owned 96,197 shares in the company, valued at $44,373,752.16. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick P. Grace sold 150 shares of Chemed stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total transaction of $69,508.50. Following the sale, the director directly owned 3,397 shares of the company’s stock, valued at $1,574,135.83. This trade represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in shares of Chemed by 71.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 60 shares of the company’s stock valued at $27,000 after acquiring an additional 25 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Chemed in the second quarter worth $28,000. SVB Wealth LLC bought a new position in Chemed in the 1st quarter worth $30,000. First Horizon Corp acquired a new position in Chemed during the 3rd quarter worth $31,000. Finally, WPG Advisers LLC acquired a new stake in shares of Chemed in the first quarter valued at about $32,000. Institutional investors 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.