Chemed Co. (NYSE:CHE) Short Interest Update

Chemed Co. (NYSE:CHE) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 280,900 shares, a drop of 19.8% from the May 31st total of 350,100 shares. Based on an average daily trading volume, of 79,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 1.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms recently commented on CHE. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. 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 report on Tuesday, May 21st.

Chemed Price Performance

Shares of NYSE:CHE opened at $539.54 on Tuesday. The business’s 50 day moving average price is $556.04 and its 200-day moving average price is $588.78. The firm has a market capitalization of $8.17 billion, a PE ratio of 29.04, a P/E/G ratio of 2.23 and a beta of 0.43. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The firm had revenue of $589.23 million during the quarter, compared to analyst estimates of $587.18 million. As a group, analysts expect that Chemed will post 21.54 earnings per share for the current year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Thursday, May 30th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.30%. Chemed’s payout ratio is 8.61%.

Insider Buying and Selling at Chemed

In other news, Director Patrick P. Grace sold 284 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the transaction, the director now directly owns 3,270 shares in the company, valued at $1,769,004.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Kevin J. Mcnamara sold 4,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the completion of the transaction, the chief executive officer now directly owns 108,549 shares in the company, valued at $61,605,899.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick P. Grace sold 284 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the transaction, the director now owns 3,270 shares of the company’s stock, valued at $1,769,004.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,784 shares of company stock worth $3,240,053. 3.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Chemed

A number of institutional investors have recently added to or reduced their stakes in CHE. Norges Bank purchased a new position in Chemed during the fourth quarter worth approximately $92,359,000. TD Asset Management Inc raised its position in Chemed by 164.3% in the fourth quarter. TD Asset Management Inc now owns 205,777 shares of the company’s stock valued at $120,328,000 after purchasing an additional 127,934 shares during the period. Massachusetts Financial Services Co. MA raised its position in Chemed by 121.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock valued at $118,760,000 after purchasing an additional 111,399 shares during the period. International Assets Investment Management LLC purchased a new stake in Chemed in the fourth quarter valued at $430,970,000. Finally, Epoch Investment Partners Inc. raised its position in Chemed by 85.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 152,162 shares of the company’s stock valued at $88,977,000 after purchasing an additional 70,001 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

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.