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

Chemed Co. (NYSE:CHEGet Rating) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 263,400 shares, a decline of 7.9% from the August 15th total of 286,000 shares. Based on an average daily trading volume, of 65,000 shares, the days-to-cover ratio is currently 4.1 days. Currently, 1.8% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Royal Bank of Canada cut their price target on Chemed from $592.00 to $541.00 and set an “outperform” rating for the company in a research note on Monday, August 1st.

Chemed Trading Up 0.7 %

Chemed stock opened at $483.52 on Tuesday. The business has a 50-day simple moving average of $485.04 and a two-hundred day simple moving average of $486.15. The company has a market cap of $7.21 billion, a P/E ratio of 26.89, a P/E/G ratio of 3.61 and a beta of 0.51. Chemed has a 52-week low of $403.00 and a 52-week high of $539.87. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.16.

Chemed (NYSE:CHEGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.06. The company had revenue of $531.29 million during the quarter, compared to the consensus estimate of $538.07 million. Chemed had a return on equity of 44.64% and a net margin of 12.95%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $4.60 EPS. Analysts predict that Chemed will post 18.72 EPS for the current year.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 12th. This is an increase from Chemed’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.31%. Chemed’s payout ratio is 8.45%.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $474.13, for a total value of $948,260.00. Following the completion of the transaction, the chief executive officer now owns 124,235 shares of the company’s stock, valued at approximately $58,903,540.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chemed news, CEO Kevin J. Mcnamara sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the completion of the sale, the chief executive officer now directly owns 125,185 shares in the company, valued at approximately $60,330,407.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total value of $948,260.00. Following the sale, the chief executive officer now owns 124,235 shares of the company’s stock, valued at $58,903,540.55. The disclosure for this sale can be found here. 4.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHE. Citigroup Inc. boosted its stake in Chemed by 62.8% in the 4th quarter. Citigroup Inc. now owns 10,899 shares of the company’s stock worth $5,766,000 after purchasing an additional 4,205 shares during the period. Qube Research & Technologies Ltd bought a new position in Chemed in the 4th quarter worth approximately $701,000. Bank of Montreal Can boosted its stake in Chemed by 60.8% in the 4th quarter. Bank of Montreal Can now owns 5,052 shares of the company’s stock worth $2,700,000 after purchasing an additional 1,911 shares during the period. Allianz Asset Management GmbH boosted its stake in Chemed by 73.2% in the 4th quarter. Allianz Asset Management GmbH now owns 7,702 shares of the company’s stock worth $4,075,000 after purchasing an additional 3,256 shares during the period. Finally, Schroder Investment Management Group boosted its stake in Chemed by 727.4% in the 4th quarter. Schroder Investment Management Group now owns 14,719 shares of the company’s stock worth $7,787,000 after purchasing an additional 12,940 shares during the period. 90.42% of the stock is currently owned by institutional investors.

About Chemed

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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 two segments, VITAS and Roto-Rooter. 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.

Further Reading

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