Bank of America Cuts Chemed (NYSE:CHE) Price Target to $650.00

Chemed (NYSE:CHE - Get Free Report) had its price objective dropped by stock analysts at Bank of America from $708.00 to $650.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price would indicate a potential upside of 28.44% from the company's current price.

Several other research analysts also recently weighed in on CHE. Royal Bank Of Canada increased their price target on shares of Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Chemed Stock Performance

Shares of CHE opened at $506.08 on Monday. Chemed has a fifty-two week low of $489.94 and a fifty-two week high of $623.61. The firm's 50-day simple moving average is $564.50 and its two-hundred day simple moving average is $565.03. The stock has a market cap of $7.40 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.32 and a beta of 0.54.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.04. The company had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.20 EPS. Equities research analysts predict that Chemed will post 21.43 EPS for the current year.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the sale, the executive vice president now owns 14,627 shares of the company's stock, valued at $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 4,500 shares of company stock valued at $2,598,450. Company insiders own 3.29% of the company's stock.

Institutional Trading of Chemed

Several hedge funds have recently modified their holdings of the company. Atala Financial Inc purchased a new stake in Chemed during the fourth quarter valued at approximately $29,000. Alpine Bank Wealth Management purchased a new position in Chemed during the first quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock valued at $30,000 after purchasing an additional 22 shares during the period. HM Payson & Co. acquired a new stake in Chemed during the first quarter valued at $30,000. Finally, SVB Wealth LLC purchased a new position in Chemed in the first quarter valued at $30,000. 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.

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