Short Interest in Chemed Co. (NYSE:CHE) Drops By 7.9%

Chemed Co. (NYSE:CHE) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 238,500 shares, a decrease of 7.9% from the August 31st total of 259,000 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average trading volume of 89,000 shares, the short-interest ratio is currently 2.7 days.

Chemed Price Performance

Shares of CHE stock traded down $8.27 during trading on Tuesday, reaching $592.70. The company had a trading volume of 53,212 shares, compared to its average volume of 83,833. The firm’s 50 day simple moving average is $575.72 and its two-hundred day simple moving average is $575.12. Chemed has a one year low of $497.36 and a one year high of $654.62. The company has a market capitalization of $8.97 billion, a PE ratio of 31.90, a PEG ratio of 2.40 and a beta of 0.44.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). The company had revenue of $595.88 million during the quarter, compared to the consensus estimate of $599.20 million. Chemed had a net margin of 12.88% and a return on equity of 29.21%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 earnings per share. Analysts forecast that Chemed will post 21.77 earnings per share for the current year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were given a $0.50 dividend. This is an increase from Chemed’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, August 12th. Chemed’s payout ratio is currently 10.76%.

Insider Buying and Selling

In related news, Director George J. Walsh III sold 200 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $577.95, for a total value of $115,590.00. Following the completion of the sale, the director now directly owns 3,446 shares of the company’s stock, valued at approximately $1,991,615.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Nicholas Michael Westfall sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $561.58, for a total value of $1,123,160.00. Following the transaction, the executive vice president now directly owns 5,990 shares of the company’s stock, valued at approximately $3,363,864.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Walsh III sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $577.95, for a total value of $115,590.00. Following the completion of the transaction, the director now directly owns 3,446 shares in the company, valued at $1,991,615.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,144 shares of company stock valued at $5,264,839. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of Chemed

Institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Chemed in the 1st quarter valued at $26,000. GAMMA Investing LLC boosted its stake in Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. Mather Group LLC. acquired a new position in Chemed in the first quarter worth $67,000. EntryPoint Capital LLC boosted its stake in Chemed by 14.0% in the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after purchasing an additional 18 shares in the last quarter. Finally, Quarry LP boosted its stake in Chemed by 721.7% in the second 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 currently owned by 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.