Short Interest in Chemed Co. (NYSE:CHE) Rises By 15.4%

Chemed Co. (NYSE:CHE) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 350,100 shares, a growth of 15.4% from the May 15th total of 303,500 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 79,700 shares, the short-interest ratio is currently 4.4 days.

Chemed Price Performance

Shares of CHE opened at $538.66 on Tuesday. The company’s fifty day moving average price is $570.54 and its 200-day moving average price is $591.38. The firm has a market capitalization of $8.16 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last released its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.41). The business had revenue of $589.23 million during the quarter, compared to analysts’ expectations of $587.18 million. Chemed had a net margin of 12.36% and a return on equity of 30.52%. As a group, research analysts anticipate that Chemed will post 21.54 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Thursday, May 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, May 30th. Chemed’s dividend payout ratio is currently 8.61%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CHE shares. Royal Bank of Canada dropped their target price on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Oppenheimer upped their target price on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

Insider Activity

In related news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the sale, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the transaction, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the sale, the chief executive officer now owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,592 shares of company stock worth $13,424,584. Insiders own 3.32% of the company’s stock.

Institutional Trading of Chemed

A number of hedge funds and other institutional investors have recently modified their holdings of CHE. Kayne Anderson Rudnick Investment Management LLC grew its position in Chemed by 3.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 534,123 shares of the company’s stock valued at $277,584,000 after acquiring an additional 17,487 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Chemed by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 386,237 shares of the company’s stock worth $200,727,000 after buying an additional 1,044 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Chemed by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock valued at $149,355,000 after buying an additional 24,161 shares during the period. TD Asset Management Inc boosted its holdings in Chemed by 23.9% in the first quarter. TD Asset Management Inc now owns 254,953 shares of the company’s stock valued at $163,662,000 after purchasing an additional 49,176 shares during the period. Finally, FMR LLC grew its position in shares of Chemed by 15.4% during the third quarter. FMR LLC now owns 214,994 shares of the company’s stock worth $111,732,000 after buying an additional 28,682 shares in the last quarter. 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.