Chemed Co. (NYSE:CHE) Sees Large Drop in Short Interest

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Royal Bank of Canada lowered their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Chemed Price Performance

NYSE CHE traded down $15.22 during trading hours on Tuesday, reaching $524.90. The company’s stock had a trading volume of 137,044 shares, compared to its average volume of 86,385. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62. The company’s 50-day moving average is $569.94 and its two-hundred day moving average is $564.90. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.32 and a beta of 0.46.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing the consensus estimate of $5.76 by ($0.12). The company had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. Chemed’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.32 EPS. Equities analysts forecast that Chemed will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

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

Insider Activity

In related news, EVP Spencer S. Lee sold 732 shares of Chemed stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the completion of the sale, the executive vice president now owns 18,287 shares of the company’s stock, valued at $10,526,362.94. The trade was a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Walsh III sold 400 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total transaction of $238,988.00. Following the completion of the transaction, the director now owns 3,046 shares in the company, valued at approximately $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,132 shares of company stock worth $3,003,502 over the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chemed

Large investors have recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Chemed in the third quarter worth approximately $61,000. GAMMA Investing LLC lifted its stake in shares of Chemed by 60.5% in the third quarter. GAMMA Investing LLC now owns 138 shares of the company’s stock worth $83,000 after buying an additional 52 shares in the last quarter. Quarry LP boosted its position in Chemed by 721.7% during the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after acquiring an additional 166 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Chemed during the 3rd quarter valued at about $201,000. Finally, Farther Finance Advisors LLC grew its position in shares of Chemed by 2,314.3% in the third quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock valued at $203,000 after purchasing an additional 324 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

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.