Short Interest in Chemed Co. (NYSE:CHE) Declines By 19.8%

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

Chemed Stock Performance

NYSE CHE opened at $539.54 on Tuesday. The stock has a market capitalization of $8.17 billion, a P/E 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. The business’s fifty day moving average is $556.04 and its two-hundred day moving average is $588.78.

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

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.30%. The ex-dividend date was Thursday, May 30th. Chemed’s dividend payout ratio (DPR) is currently 8.61%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research 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.

Insider Transactions at Chemed

In other news, CEO Kevin J. Mcnamara sold 4,000 shares of Chemed stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the sale, the chief executive officer now directly owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Chemed news, Director Patrick P. Grace sold 284 shares of Chemed stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 4,000 shares of Chemed stock in a transaction that occurred on Thursday, May 16th. The shares were 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 owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,784 shares of company stock valued at $3,240,053. 3.32% of the stock is currently owned by insiders.

Institutional Trading of Chemed

Several large investors have recently added to or reduced their stakes in CHE. Rise Advisors LLC acquired a new stake in Chemed during the 1st quarter valued at $26,000. GAMMA Investing LLC purchased a new position in shares of Chemed during the 4th quarter valued at $37,000. Principal Securities Inc. purchased a new position in shares of Chemed during the 4th quarter valued at $51,000. SRS Capital Advisors Inc. grew its holdings in shares of Chemed by 110.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 99 shares of the company’s stock valued at $58,000 after acquiring an additional 52 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Chemed during the 1st quarter valued at $67,000. 95.85% of the stock is owned by institutional investors and hedge funds.

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.