Chemed Corporation (NYSE:CHE) Short Interest Down 20.0% in August

Key Points

• Chemed Corporation's short interest decreased by 20.0% in August, falling to 410,200 shares, indicating less bearish sentiment among investors.
• Director George J. Walsh III increased his stake in Chemed by acquiring 200 shares valued at approximately $83,420, while EVP Nicholas Michael Westfall sold 10,012 shares for over $4.2 million.
• Chemed's quarterly earnings reported on July 29 showed an EPS of $4.27, missing analyst expectations, and the company recently increased its dividend from $0.50 to $0.60 per share.

Chemed Corporation (NYSE:CHE - Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 410,200 shares, a decline of 20.0% from the August 15th total of 513,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 181,900 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily trading volume, of 181,900 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.9% of the shares of the company are sold short.

Insider Activity at Chemed

In other news, Director Patrick P. Grace sold 150 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the transaction, the director directly owned 3,397 shares of the company's stock, valued at $1,574,135.83. This represents a 4.23% 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 link. Also, Director George J. Walsh III bought 200 shares of Chemed stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average cost of $417.10 per share, with a total value of $83,420.00. Following the acquisition, the director directly owned 3,523 shares in the company, valued at $1,469,443.30. This trade represents a 6.02% increase in their position. The disclosure for this purchase can be found here. 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 the business. Norges Bank bought a new position in Chemed in the 2nd quarter worth about $89,388,000. GAMMA Investing LLC grew its stake in Chemed by 131,200.8% during the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock valued at $102,606,000 after acquiring an additional 166,625 shares in the last quarter. AQR Capital Management LLC increased its holdings in Chemed by 160.9% during the 2nd quarter. AQR Capital Management LLC now owns 201,041 shares of the company's stock worth $97,893,000 after acquiring an additional 123,982 shares during the period. Acadian Asset Management LLC lifted its stake in Chemed by 69.3% in the 2nd quarter. Acadian Asset Management LLC now owns 250,722 shares of the company's stock worth $122,056,000 after purchasing an additional 102,597 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Chemed by 249.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 130,037 shares of the company's stock valued at $80,015,000 after purchasing an additional 92,813 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CHE shares. Royal Bank Of Canada dropped their price objective on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Bank of America lowered their target price on Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Oppenheimer reduced their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group raised Chemed from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Chemed currently has an average rating of "Buy" and a consensus price target of $578.50.

Chemed Price Performance

Shares of NYSE:CHE traded up $3.20 during midday trading on Monday, hitting $455.45. 131,595 shares of the company's stock were exchanged, compared to its average volume of 193,580. Chemed has a 12 month low of $408.42 and a 12 month high of $623.60. The company has a market cap of $6.64 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.63 and a beta of 0.46. The stock has a 50 day moving average price of $450.28 and a 200-day moving average price of $524.60.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The firm had revenue of $618.80 million for the quarter, compared to analysts' expectations of $650.60 million. During the same period in the prior year, the firm earned $5.47 earnings per share. Chemed's revenue was up 3.8% compared to the same quarter last year. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, analysts anticipate that Chemed will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. This is an increase from Chemed's previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 11th. Chemed's dividend payout ratio is 12.34%.

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.