Short Interest in Chemed Corporation (NYSE:CHE) Grows By 41.2%

Chemed Corporation (NYSE:CHE) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 593,000 shares, a growth of 41.2% from the September 30th total of 419,900 shares. Approximately 4.2% of the company’s shares are sold short. Based on an average trading volume of 190,500 shares, the short-interest ratio is presently 3.1 days. Based on an average trading volume of 190,500 shares, the short-interest ratio is presently 3.1 days. Approximately 4.2% of the company’s shares are sold short.

Insider Buying and Selling at Chemed

In other news, Director Patrick P. Grace sold 150 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total value of $69,508.50. Following the completion of the transaction, the director owned 3,397 shares of the company’s stock, valued at $1,574,135.83. The trade was a 4.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $461.28, for a total transaction of $1,383,840.00. Following the completion of the transaction, the chief executive officer directly owned 96,197 shares of the company’s stock, valued at $44,373,752.16. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.29% of the company’s stock.

Institutional Investors Weigh In On Chemed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC bought a new position in Chemed in the 1st quarter valued at about $265,000. Jump Financial LLC bought a new position in Chemed in the 1st quarter valued at about $2,777,000. Mather Group LLC. raised its holdings in Chemed by 53.3% in the 1st quarter. Mather Group LLC. now owns 161 shares of the company’s stock valued at $99,000 after acquiring an additional 56 shares during the period. Envestnet Asset Management Inc. raised its holdings in Chemed by 4.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 80,123 shares of the company’s stock valued at $49,302,000 after acquiring an additional 3,695 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Chemed by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 146,037 shares of the company’s stock valued at $89,860,000 after acquiring an additional 3,782 shares during the period. 95.85% of the stock is owned by institutional investors.

Chemed Trading Down 0.4%

Shares of NYSE CHE opened at $438.94 on Wednesday. The firm has a market cap of $6.40 billion, a PE ratio of 23.21, a PEG ratio of 2.69 and a beta of 0.43. Chemed has a 1-year low of $408.42 and a 1-year high of $623.60. The company has a fifty day moving average price of $447.22 and a 200 day moving average price of $490.18.

Chemed (NYSE:CHE) last announced its earnings results on Tuesday, October 28th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.12). The company had revenue of $624.90 million during the quarter, compared to analyst estimates of $626.04 million. Chemed had a return on equity of 25.89% and a net margin of 11.02%.Chemed’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.64 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities research analysts forecast that Chemed will post 21.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CHE. Oppenheimer decreased their price target on shares of Chemed from $650.00 to $580.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and boosted their price target for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Zacks Research raised shares of Chemed from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Bank of America decreased their price target on shares of Chemed from $610.00 to $595.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chemed in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $578.50.

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.