Chemed Co. (NYSE:CHE) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 544,322 shares, a decline of 32.5% from the May 31st total of 805,842 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 374,162 shares, the days-to-cover ratio is currently 1.5 days.
In other Chemed news, insider Kevin J. Mcnamara sold 19,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $322.27, for a total transaction of $6,123,130.00. Following the sale, the insider now directly owns 124,491 shares of the company’s stock, valued at $40,119,714.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin J. Mcnamara sold 22,000 shares of the company’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $299.69, for a total transaction of $6,593,180.00. Following the sale, the insider now directly owns 185,375 shares in the company, valued at $55,555,033.75. The disclosure for this sale can be found here. Insiders sold a total of 96,261 shares of company stock worth $30,125,544 over the last three months. 4.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Zeke Capital Advisors LLC purchased a new stake in Chemed in the first quarter worth approximately $218,000. Grimes & Company Inc. purchased a new stake in Chemed in the first quarter worth approximately $218,000. We Are One Seven LLC boosted its stake in Chemed by 234.0% in the first quarter. We Are One Seven LLC now owns 805 shares of the company’s stock worth $220,000 after buying an additional 564 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in Chemed in the fourth quarter worth approximately $205,000. Finally, LPL Financial LLC purchased a new stake in Chemed in the first quarter worth approximately $236,000. Institutional investors own 95.73% of the company’s stock.
Shares of CHE opened at $321.81 on Monday. Chemed has a twelve month low of $186.09 and a twelve month high of $335.99. The stock has a market cap of $5.13 billion, a PE ratio of 60.04, a P/E/G ratio of 2.94 and a beta of 1.10. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.
Chemed (NYSE:CHE) last announced its quarterly earnings results on Thursday, April 19th. The company reported $2.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.36. Chemed had a return on equity of 33.05% and a net margin of 6.67%. The firm had revenue of $439.18 million for the quarter, compared to analysts’ expectations of $419.33 million. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. sell-side analysts predict that Chemed will post 10.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Thursday, May 31st were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Wednesday, May 30th. Chemed’s dividend payout ratio (DPR) is 20.90%.
Chemed declared that its board has authorized a stock buyback program on Tuesday, March 6th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Chemed from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. ValuEngine raised shares of Chemed from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $290.67.
Chemed Company Profile
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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