Chemed Co. (NYSE:CHE) Sees Large Increase in Short Interest

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Chemed Co. (NYSE:CHE) saw a significant increase in short interest in November. As of November 29th, there was short interest totalling 257,700 shares, an increase of 6.5% from the November 14th total of 242,000 shares. Based on an average daily volume of 98,500 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.7% of the company’s shares are short sold.

CHE traded up $3.75 during trading on Friday, hitting $440.12. The company had a trading volume of 70,333 shares, compared to its average volume of 87,222. The company has a market capitalization of $6.97 billion, a PE ratio of 36.89, a PEG ratio of 2.98 and a beta of 1.11. Chemed has a one year low of $260.03 and a one year high of $441.79. The firm’s 50-day moving average price is $419.06 and its 200 day moving average price is $400.16. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.32.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.31 by $0.15. The business had revenue of $480.61 million for the quarter, compared to analysts’ expectations of $478.89 million. Chemed had a net margin of 11.14% and a return on equity of 35.06%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.07 EPS. Sell-side analysts forecast that Chemed will post 13.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.28 annualized dividend and a yield of 0.29%. Chemed’s dividend payout ratio (DPR) is presently 10.73%.

CHE has been the topic of several research reports. JMP Securities raised shares of Chemed from a “market perform” rating to an “outperform” rating and set a $490.00 price objective on the stock in a research report on Friday, November 1st. ValuEngine cut shares of Chemed from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Bank of America boosted their price objective on shares of Chemed from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Oppenheimer boosted their price objective on shares of Chemed from $440.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $435.00.

In other news, Director Frank E. Wood sold 5,451 shares of Chemed stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $419.62, for a total transaction of $2,287,348.62. Following the transaction, the director now directly owns 5,429 shares of the company’s stock, valued at $2,278,116.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank E. Wood sold 2,772 shares of Chemed stock in a transaction on Monday, October 14th. The stock was sold at an average price of $414.75, for a total transaction of $1,149,687.00. Following the transaction, the director now directly owns 5,429 shares in the company, valued at $2,251,677.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,683 shares of company stock worth $6,582,111. Insiders own 3.96% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in Chemed by 2.5% during the 2nd quarter. BlackRock Inc. now owns 1,697,275 shares of the company’s stock worth $612,445,000 after buying an additional 42,102 shares in the last quarter. Invesco Ltd. lifted its position in Chemed by 7.4% during the 2nd quarter. Invesco Ltd. now owns 262,075 shares of the company’s stock worth $94,567,000 after buying an additional 18,100 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Chemed by 27.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 217,000 shares of the company’s stock worth $78,302,000 after buying an additional 47,300 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Chemed by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 201,475 shares of the company’s stock worth $72,700,000 after buying an additional 8,586 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in Chemed by 9.0% during the 3rd quarter. Voya Investment Management LLC now owns 187,632 shares of the company’s stock worth $78,349,000 after buying an additional 15,429 shares in the last quarter. 88.84% of the stock is currently owned by hedge funds and other institutional investors.

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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

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