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

Chemed Co. (NYSE:CHE) was the target of a large drop in short interest in 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 volume of 79,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 1.9% of the company’s stock are sold short.

Chemed Trading Down 0.4 %

CHE stock traded down $2.36 on Friday, hitting $542.58. The company’s stock had a trading volume of 315,282 shares, compared to its average volume of 81,108. Chemed has a 1 year low of $492.84 and a 1 year high of $654.62. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 2.23 and a beta of 0.46. The firm has a 50 day moving average of $557.34 and a two-hundred day moving average of $589.05.

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

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.29%. Chemed’s dividend payout ratio (DPR) is currently 8.61%.

Analysts Set New Price Targets

CHE has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Chicago Capital LLC purchased a new stake in Chemed in the 4th quarter valued at approximately $1,170,000. Raymond James & Associates grew its holdings in Chemed by 5.7% during the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock worth $39,715,000 after acquiring an additional 3,654 shares during the period. Cim LLC purchased a new position in Chemed in the fourth quarter worth $1,328,000. Campbell & CO Investment Adviser LLC lifted its holdings in Chemed by 715.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 5,428 shares of the company’s stock valued at $3,174,000 after acquiring an additional 4,762 shares during the period. Finally, Trust Point Inc. purchased a new stake in shares of Chemed during the 4th quarter worth $2,325,000. Institutional investors and hedge funds 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.