Short Interest in Chemed Co. (NYSE:CHE) Expands By 6.5%

Chemed Co. (NYSE:CHE) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 259,100 shares, a growth of 6.5% from the October 15th total of 243,400 shares. Based on an average daily trading volume, of 79,500 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Royal Bank of Canada decreased their price target on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now owns 103,735 shares of the company’s stock, valued at approximately $62,117,555.35. The trade was a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George J. Walsh III sold 200 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $577.95, for a total transaction of $115,590.00. Following the transaction, the director now directly owns 3,446 shares of the company’s stock, valued at approximately $1,991,615.70. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,313 shares of company stock valued at $2,527,495 in the last 90 days. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chemed

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Chemed by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock valued at $314,868,000 after acquiring an additional 14,651 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Chemed by 2.7% in the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock worth $257,927,000 after purchasing an additional 12,705 shares in the last quarter. State Street Corp grew its stake in shares of Chemed by 0.8% in the third quarter. State Street Corp now owns 464,354 shares of the company’s stock worth $279,063,000 after purchasing an additional 3,564 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Chemed by 4.9% in the third 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, Impax Asset Management Group plc grew its stake in shares of Chemed by 4.7% in the third quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock worth $199,977,000 after purchasing an additional 14,814 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Stock Down 0.9 %

Shares of CHE traded down $5.13 during trading on Tuesday, reaching $549.74. The company’s stock had a trading volume of 30,732 shares, compared to its average volume of 85,748. The company has a fifty day moving average of $580.37 and a two-hundred day moving average of $565.38. Chemed has a twelve month low of $523.33 and a twelve month high of $654.62. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.37 and a beta of 0.46.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. During the same period in the previous year, the company earned $5.32 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Chemed will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, November 18th. Chemed’s dividend payout ratio is currently 10.11%.

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.