Chemed (NYSE:CHE) Price Target Raised to $667.00 at Royal Bank of Canada

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

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

Chemed Price Performance

Shares of Chemed stock opened at $598.15 on Friday. The business has a 50 day simple moving average of $560.28 and a two-hundred day simple moving average of $564.74. The stock has a market capitalization of $8.76 billion, a P/E ratio of 30.22, a PEG ratio of 2.15 and a beta of 0.43. Chemed has a 12 month low of $512.12 and a 12 month high of $654.62.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s dividend payout ratio is currently 10.05%.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated 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 transaction, the chief executive officer now directly owns 102,679 shares of the company’s stock, valued at $60,957,441.93. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian C. Judkins purchased 145 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $519.50 per share, with a total value of $75,327.50. Following the purchase, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Chemed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Chemed during the 4th quarter worth $95,872,000. Freestone Grove Partners LP acquired a new position in Chemed in the fourth quarter valued at about $61,664,000. Point72 Asset Management L.P. purchased a new position in Chemed during the fourth quarter worth about $54,587,000. Raymond James Financial Inc. acquired a new stake in shares of Chemed during the fourth quarter valued at about $42,023,000. Finally, Citadel Advisors LLC raised its stake in shares of Chemed by 197.4% in the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company’s stock valued at $40,870,000 after acquiring an additional 51,206 shares during the period. Hedge funds and other institutional investors 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.