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

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

Chemed Price Performance

Chemed stock traded down $1.74 during mid-day trading on Tuesday, reaching $438.94. The stock had a trading volume of 140,750 shares, compared to its average volume of 153,275. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.69 and a beta of 0.43. The company has a 50-day moving average price of $447.38 and a two-hundred day moving average price of $491.17. Chemed has a one year low of $408.42 and a one year high of $623.60.

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

Insider Buying and Selling at Chemed

In related news, Director Patrick P. Grace sold 150 shares of Chemed 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 transaction, the director directly owned 3,397 shares of the company’s stock, valued at $1,574,135.83. The trade was a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin J. Mcnamara sold 3,000 shares of Chemed stock in a transaction on Friday, September 26th. The stock was 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 in the company, valued at approximately $44,373,752.16. The trade was a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Chemed

Hedge funds have recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new position in Chemed during the 2nd quarter valued at about $28,000. HM Payson & Co. bought a new position in Chemed during the 1st quarter valued at about $30,000. SVB Wealth LLC bought a new position in Chemed during the 1st quarter valued at about $30,000. First Horizon Corp bought a new position in Chemed during the 3rd quarter valued at about $31,000. Finally, WPG Advisers LLC bought a new position in Chemed during the 1st quarter valued at about $32,000. Institutional investors own 95.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Chemed from $610.00 to $595.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chemed in a research report on Wednesday, October 8th. Zacks Research raised shares of Chemed from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Jefferies Financial Group raised shares of Chemed from a “hold” rating to a “buy” rating and upped their target price for the stock from $490.00 to $550.00 in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada reduced their target price on shares of Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $578.50.

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.