Chemed Corp (NYSE:CHE) director Andrea R. Lindell has sold a total of 831 shares of the company's capital stock, a transaction valued at approximately $474,924. The shares were sold at a price of $571.51 each, according to the company's latest filing with the Securities and Exchange Commission.
The transaction took place on August 16, 2024, as disclosed in the filing dated August 26, 2024. Following the sale, Lindell's holdings in Chemed Corp decreased to 5,725 shares. The nature of the ownership is reported as direct, indicating that the shares are owned outright by Lindell without any intermediaries or trusts involved.
Chemed Corp, with its headquarters in Cincinnati, Ohio, operates in the healthcare services sector, providing home health care services among other offerings. The company, formerly known as Roto-Rooter Inc., has undergone name changes in the past, reflecting its evolving business focus.
The recent transaction by Lindell is part of the regular disclosure of stock transactions by company insiders, providing transparency to investors and the market. Such sales are common among executives and directors who may liquidate shares for personal financial planning purposes.
Investors often monitor insider transactions as they can provide insights into the confidence levels that company insiders have in the business's prospects. However, it is important to consider that these transactions may not necessarily indicate a change in the company’s outlook, as they can be influenced by a variety of personal financial considerations.
Chemed Corp's stock is publicly traded on the New York Stock Exchange under the ticker symbol CHE.
In other recent news, Chemed Corporation has announced a 25% increase in its quarterly cash dividend, marking a payout of 50 cents per share. This continues the company's history of consistent shareholder returns, having issued dividends for a remarkable 213 consecutive quarters over its 53-year tenure as a publicly traded company. In the latest earnings report, Chemed revealed a mixed performance among its subsidiaries. VITAS Healthcare, bolstered by the acquisition of Covenant Health, demonstrated robust growth with significant increases in admissions and average daily census. On the other hand, Roto-Rooter experienced a downturn in revenue and call volume. However, Chemed remains optimistic about Roto-Rooter's long-term growth potential, anticipating a 5% to 6% annual growth rate. Chemed also updated its 2024 earnings per share guidance to $23.55 to $23.80. These are recent developments that underline the ongoing evolution of the company's financial health.
InvestingPro Insights
Amid the recent insider trading activity, Chemed Corp (NYSE:CHE) continues to present a notable profile in the financial markets. With a market capitalization of $8.6 billion, the company's financial health and stock performance metrics are key areas of interest for investors. An InvestingPro Tip highlights that Chemed has raised its dividend for 15 consecutive years, a testament to its commitment to returning value to shareholders. This is particularly noteworthy as the company has maintained dividend payments for an impressive 54 consecutive years, indicating a stable and reliable income stream for investors.
The company's stock is currently trading at a P/E ratio of 28.77, which adjusts slightly to 28.06 when considering the last twelve months as of Q2 2024. This valuation is considered low relative to the near-term earnings growth, as indicated by another InvestingPro Tip. Additionally, Chemed's revenue has seen a growth of 6.79% over the last twelve months as of Q2 2024, suggesting a healthy expansion in its business operations.
For those looking to delve deeper into Chemed's financials and stock performance, InvestingPro offers a wealth of additional insights. There are 11 more InvestingPro Tips available, which can provide a more comprehensive view of the company's financial health, stock valuation, and performance metrics. Moreover, Chemed is expected to be profitable this year, with analysts predicting continued profitability based on the company's performance over the last twelve months.
For further information and in-depth analysis, interested parties can explore additional insights and tips on Chemed Corp by visiting https://www.investing.com/pro/CHE.
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