Royal Bank Of Canada Has Lowered Expectations for Chemed (NYSE:CHE) Stock Price

Chemed (NYSE:CHE - Free Report) had its price objective cut by Royal Bank Of Canada from $674.00 to $640.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

CHE has been the topic of several other reports. Wall Street Zen raised Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Bank of America cut their price objective on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday.

Chemed Stock Down 13.3%

Shares of Chemed stock traded down $74.18 during trading on Monday, reaching $485.18. The company's stock had a trading volume of 733,458 shares, compared to its average volume of 109,135. The business's 50-day moving average price is $564.50 and its 200-day moving average price is $565.03. Chemed has a 52 week low of $473.61 and a 52 week high of $623.61. The firm has a market cap of $7.10 billion, a PE ratio of 23.63, a P/E/G ratio of 2.32 and a beta of 0.54.

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

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's payout ratio is presently 9.74%.

Insiders Place Their Bets

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 value of $866,985.00. Following the sale, the executive vice president directly owned 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $576.45, for a total value of $864,675.00. Following the transaction, the chief executive officer directly owned 101,197 shares of the company's stock, valued at approximately $58,335,010.65. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,500 shares of company stock worth $2,598,450. Company insiders own 3.29% of the company's stock.

Institutional Investors Weigh In On Chemed

Hedge funds have recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Chemed in the 1st quarter worth about $29,000. HM Payson & Co. bought a new position in Chemed in the 1st quarter valued at approximately $30,000. SVB Wealth LLC acquired a new stake in Chemed during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC grew its holdings in Chemed by 54.5% during the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after acquiring an additional 18 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in Chemed during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds 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.