Chemed (NYSE:CHE) Given New $667.00 Price Target at Royal Bank of Canada

Chemed (NYSE:CHE) had its target price increased by Royal Bank of Canada from $633.00 to $667.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

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

Chemed Price Performance

Shares of NYSE CHE opened at $598.15 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. Chemed has a 1-year low of $512.12 and a 1-year high of $654.62. The business has a fifty day moving average price of $559.02 and a 200 day moving average price of $564.62.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, February 24th. Chemed’s dividend payout ratio (DPR) is presently 10.05%.

Insider Buying and Selling at Chemed

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in shares of Chemed by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 457 shares of the company’s stock valued at $242,000 after purchasing an additional 22 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in shares of Chemed by 64.7% in the fourth 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. CIBC Private Wealth Group LLC increased its holdings in shares of Chemed by 13.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company’s stock valued at $98,000 after purchasing an additional 22 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Chemed by 1.9% in the third quarter. EP Wealth Advisors LLC now owns 1,354 shares of the company’s stock valued at $814,000 after purchasing an additional 25 shares during the period. Finally, Independent Advisor Alliance increased its holdings in shares of Chemed by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock valued at $1,207,000 after purchasing an additional 25 shares during the period. 95.85% of the stock is owned by institutional investors and hedge funds.

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.