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

Chemed (NYSE:CHE) had its price objective lifted by equities researchers at Royal Bank of Canada from $633.00 to $667.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.04% from the company’s current price.

Separately, StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Friday, March 7th.

Chemed Price Performance

CHE traded up $5.35 during trading on Friday, hitting $595.31. The stock had a trading volume of 10,272 shares, compared to its average volume of 99,362. Chemed has a one year low of $512.12 and a one year high of $654.62. The company has a 50 day moving average price of $559.02 and a 200-day moving average price of $564.62. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 2.15 and a beta of 0.43.

Insider Activity

In other news, VP Brian C. Judkins acquired 145 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $519.50 per share, for a total transaction of $75,327.50. Following the purchase, the vice president now owns 1,678 shares of the company’s stock, valued at approximately $871,721. The trade was a 9.46 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the completion of the transaction, the chief executive officer now owns 102,679 shares of the company’s stock, valued at $60,957,441.93. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Chemed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Chemed in the 4th quarter worth $42,023,000. HighTower Advisors LLC lifted its stake in Chemed by 78.0% in the third quarter. HighTower Advisors LLC now owns 3,730 shares of the company’s stock worth $2,246,000 after acquiring an additional 1,634 shares during the period. XTX Topco Ltd increased its position in Chemed by 111.5% during the 3rd quarter. XTX Topco Ltd now owns 2,843 shares of the company’s stock valued at $1,709,000 after purchasing an additional 1,499 shares during the period. Geode Capital Management LLC raised its holdings in Chemed by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock worth $201,820,000 after purchasing an additional 15,791 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its position in Chemed by 60.7% during the 4th quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company’s stock valued at $2,647,000 after acquiring an additional 1,886 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

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.