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

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

Analysts Set New Price Targets

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

Chemed Stock Performance

Shares of NYSE:CHE traded down $5.13 during midday trading on Tuesday, reaching $549.74. The company had a trading volume of 30,732 shares, compared to its average volume of 85,748. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46. The company has a fifty day simple moving average of $580.37 and a two-hundred day simple moving average of $565.38.

Chemed (NYSE:CHE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share 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 company had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. During the same quarter last year, the business earned $5.32 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that Chemed will post 21.43 EPS for the current year.

Chemed Announces Dividend

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

Insider Transactions at Chemed

In related news, Director George J. Walsh III sold 200 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $577.95, for a total transaction of $115,590.00. Following the completion of the transaction, the director now owns 3,446 shares of the company’s stock, valued at $1,991,615.70. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’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 transaction, the chief executive officer now directly owns 103,735 shares of the company’s stock, valued at $62,117,555.35. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,313 shares of company stock valued at $2,527,495. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chemed

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. American National Bank & Trust purchased a new stake in Chemed in the 3rd quarter worth about $61,000. EntryPoint Capital LLC lifted its stake in Chemed by 14.0% in the 1st quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after acquiring an additional 18 shares in the last quarter. Mather Group LLC. lifted its stake in Chemed by 60.5% in the 2nd quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after acquiring an additional 69 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after purchasing an additional 166 shares in the last quarter. 95.85% of the stock is 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.