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Chemed CFO sells over $1.7 million in stock, buys $1 million



 

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Investors following Chemed Corp (NYSE:CHE) witnessed a significant trading activity from the company’s VP & Chief Financial Officer, Michael D. Witzeman. According to the latest SEC filings, Witzeman sold shares worth over $1.7 million and purchased additional shares totaling approximately $1 million.

On March 20, 2024, Witzeman acquired 2,600 shares of Chemed capital stock at a price of $413.19 per share, amounting to a total investment of $1,074,294. This transaction increased his direct ownership to 5,887 shares following the acquisition. However, on the same day, he disposed of 355 shares at a significantly higher price of $647.44 each, which totaled $229,841.

The following day, on March 21, Witzeman executed a larger sale, offloading 2,650 shares. These were sold at a weighted average price of $643.14 per share, ranging from $642.49 to $643.27, bringing in a total of $1,704,321. After this sale, his direct stake in the company was reduced to 2,882 shares.

The transactions represent a notable change in Witzeman’s holdings in Chemed, a company known for its home health care services. The recent activity could be of interest to investors keeping an eye on insider trading patterns within the company.

The SEC filing also mentioned a derivative transaction where Witzeman exercised options for the same 2,600 shares at a conversion price of $413.19, which are set to vest in three equal annual installments starting from October 29, 2020. Following this transaction, his direct ownership in derivative securities stands at 38,933 shares.

Investors and followers of Chemed Corp can request detailed information on the exact number of shares sold at each price point within the reported range by contacting the company directly.

InvestingPro Insights

Chemed Corp (NYSE:CHE) has demonstrated a strong financial performance and investor interest, as reflected in recent insider trading activity and market metrics. According to InvestingPro data, Chemed boasts a robust market capitalization of $9.7 billion and an elevated P/E ratio of 35.45, indicating a high valuation by investors based on earnings. The company’s revenue growth over the last twelve months as of Q1 2023 was 6.06%, showcasing steady business expansion. Additionally, Chemed’s stock has been trading near its 52-week high, with a price percentage of 98.36% of that peak value.

One of the notable InvestingPro Tips for Chemed Corp is the company’s consistent dividend track record, having increased its dividend for 15 consecutive years. This is a sign of Chemed’s commitment to returning value to shareholders and its confidence in maintaining a stable cash flow. Moreover, three analysts have revised their earnings estimates upwards for the upcoming period, suggesting a positive outlook on the company’s future performance.

Investors considering Chemed Corp as part of their portfolio may find additional insights by exploring more InvestingPro Tips. There are currently 16 tips available, including observations on the company’s low price volatility and its ability to cover interest payments with cash flows, which could be crucial for assessing the company’s financial health and investment stability.

For those looking to delve deeper into Chemed’s financials and strategic positioning, an additional 10% off a yearly or biyearly Pro and Pro+ subscription is available using the coupon code PRONEWS24. Visit https://www.investing.com/pro/CHE to discover more about this opportunity.

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