Chemed Co. (NYSE:CHE) Short Interest Update

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

Insider Activity at Chemed

In other news, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president now directly owns 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,500 shares of company stock worth $3,213,780. Insiders own 3.29% of the company's stock.

Hedge Funds Weigh In On Chemed

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Chemed during the fourth quarter valued at $42,023,000. Charles Schwab Investment Management Inc. raised its stake in shares of Chemed by 10.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after acquiring an additional 13,394 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Chemed during the fourth quarter valued at $8,138,000. Capital Insight Partners LLC raised its stake in shares of Chemed by 5.3% during the fourth quarter. Capital Insight Partners LLC now owns 10,633 shares of the company's stock valued at $5,633,000 after acquiring an additional 539 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Chemed by 36.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,406 shares of the company's stock valued at $1,804,000 after acquiring an additional 914 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHE. Wall Street Zen raised shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Royal Bank of Canada increased their price target on shares of Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th.

Chemed Stock Performance

Shares of NYSE CHE traded down $1.85 during trading hours on Thursday, hitting $559.79. 99,752 shares of the stock were exchanged, compared to its average volume of 103,472. The company has a market cap of $8.19 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. The company's fifty day simple moving average is $576.96 and its two-hundred day simple moving average is $565.98. Chemed has a 1-year low of $512.12 and a 1-year high of $623.61.

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

Chemed Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, May 29th. Chemed's payout ratio is currently 9.74%.

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.