Royal Bank of Canada Forecasts Strong Price Appreciation for Chemed (NYSE:CHE) Stock

Chemed (NYSE:CHE - Get Free Report) had its price target lifted by Royal Bank of Canada from $667.00 to $674.00 in a report released 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 19.84% from the stock's current price.

Separately, StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Chemed Trading Up 1.2 %

Shares of CHE stock traded up $6.66 on Monday, reaching $562.40. The company had a trading volume of 29,569 shares, compared to its average volume of 98,457. The company has a 50-day moving average of $587.66 and a 200-day moving average of $566.73. Chemed has a 12 month low of $512.12 and a 12 month high of $623.61. The stock has a market cap of $8.22 billion, a PE ratio of 28.42, a PEG ratio of 2.15 and a beta of 0.49.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the prior year, the firm earned $5.20 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Chemed will post 21.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Kevin J. Mcnamara sold 1,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the sale, the chief executive officer now owns 101,679 shares in the company, valued at $62,566,139.07. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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