Chemed Co. (NYSE:CHE) Short Interest Update

Chemed Co. (NYSE:CHE) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 242,800 shares, a drop of 9.7% from the November 15th total of 268,900 shares. Based on an average daily trading volume, of 87,400 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.7% of the company’s shares are sold short.

Chemed Stock Down 2.8 %

NYSE:CHE traded down $15.22 on Tuesday, hitting $524.90. The stock had a trading volume of 137,044 shares, compared to its average volume of 86,385. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.32 and a beta of 0.46. The business’s 50-day simple moving average is $569.94 and its two-hundred day simple moving average is $564.90. Chemed has a 52-week low of $523.33 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). The company had revenue of $606.18 million for the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. Chemed’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.32 earnings per share. As a group, equities research analysts anticipate that Chemed will post 21.43 EPS for the current year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date was Monday, November 18th. Chemed’s dividend payout ratio is currently 10.11%.

Insider Activity

In other Chemed 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 transaction, the chief executive officer now owns 103,735 shares in the company, valued at approximately $62,117,555.35. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Spencer S. Lee sold 732 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total value of $421,353.84. Following the transaction, the executive vice president now directly owns 18,287 shares of the company’s stock, valued at $10,526,362.94. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,132 shares of company stock valued at $3,003,502. 3.32% of the stock is currently owned by insiders.

Institutional Trading of Chemed

Several institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in Chemed by 21.3% during the third quarter. Franklin Resources Inc. now owns 8,800 shares of the company’s stock valued at $5,282,000 after acquiring an additional 1,544 shares in the last quarter. Second Line Capital LLC raised its stake in shares of Chemed by 17.1% in the third quarter. Second Line Capital LLC now owns 4,597 shares of the company’s stock valued at $2,763,000 after acquiring an additional 672 shares during the period. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Vestcor Inc boosted its holdings in Chemed by 35.4% during the 3rd quarter. Vestcor Inc now owns 4,351 shares of the company’s stock valued at $2,615,000 after acquiring an additional 1,138 shares during the period. Finally, Cape Cod Five Cents Savings Bank increased its stake in Chemed by 2.6% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,439 shares of the company’s stock worth $3,870,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHE. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Royal Bank of Canada decreased their price objective on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Chemed Company Profile

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.