Chemed Co. (NYSE:CHE) Short Interest Up 48.4% in May

Chemed Co. (NYSE:CHE - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 343,400 shares, a growth of 48.4% from the April 30th total of 231,400 shares. Approximately 2.4% of the company's shares are short sold. Based on an average daily trading volume, of 135,400 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CHE. Royal Bank of Canada lifted their target price on Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $577.86, for a total value of $866,790.00. Following the sale, the executive vice president now directly owns 16,127 shares of the company's stock, valued at approximately $9,319,148.22. The trade was a 8.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,000 shares of Chemed stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $615.33, for a total value of $615,330.00. Following the completion of the sale, the chief executive officer now directly owns 101,679 shares in the company, valued at $62,566,139.07. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock valued at $4,401,120. 3.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chemed

Several large investors have recently made changes to their positions in CHE. Strs Ohio bought a new stake in Chemed during the first quarter worth $1,681,000. Geneos Wealth Management Inc. increased its stake in shares of Chemed by 330.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 99 shares of the company's stock worth $61,000 after purchasing an additional 76 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Chemed in the 1st quarter valued at about $616,000. Woodline Partners LP raised its holdings in shares of Chemed by 2,681.0% in the 1st quarter. Woodline Partners LP now owns 58,178 shares of the company's stock valued at $35,798,000 after purchasing an additional 56,086 shares during the period. Finally, Faithward Advisors LLC acquired a new stake in Chemed in the 1st quarter valued at about $216,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Price Performance

CHE stock traded down $2.34 during midday trading on Tuesday, hitting $568.05. The company's stock had a trading volume of 74,504 shares, compared to its average volume of 103,136. The company's fifty day moving average price is $579.85 and its 200 day moving average price is $565.97. Chemed has a twelve month low of $512.12 and a twelve month high of $623.61. The stock has a market capitalization of $8.31 billion, a P/E ratio of 28.70, a PEG ratio of 2.15 and a beta of 0.59.

Chemed (NYSE:CHE - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the previous year, the business earned $5.20 earnings per share. Chemed's quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Chemed will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Thursday, May 29th. Chemed's dividend payout ratio is currently 9.74%.

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.