Brian C. Judkins, Vice President and Chief Legal Officer at Chemed Corp (NYSE:CHE), has acquired 145 shares of the company's capital stock. The company, currently valued at $7.79 billion, maintains a "GREAT" financial health score according to InvestingPro analysis. The shares were purchased at a price of $519.50 each, bringing the total transaction value to $75,327. Following this acquisition, Judkins now holds a total of 1,678 shares in the company. This purchase reflects Judkins' continued investment in the firm, which is known for its services in the home health care sector. With the stock trading near its 52-week low and analysts setting price targets between $633 and $708, this insider purchase aligns with InvestingPro's observation that management has been actively buying back shares. Get access to 10+ additional ProTips and comprehensive insider trading analysis with an InvestingPro subscription.
In other recent news, Chemed Corporation has authorized an additional $300 million for stock repurchases and maintained a consistent quarterly cash dividend of 50 cents per share. This move is part of Chemed's ongoing share repurchase program, financed through cash from operations and the company's revolving credit facility. The company's recent third-quarter results showed a mixed performance, with significant growth in the VITAS Healthcare segment, while the Roto-Rooter division experienced a decline in revenue.
RBC Capital Markets has adjusted its price target for Chemed from $697 to $633, maintaining an Outperform rating despite the mixed results. The firm highlighted the continued momentum in the patient census of the VITAS segment, supported by robust hiring within the company. However, the timing of a recovery in the residential services sector, particularly for Roto-Rooter, remains uncertain.
In light of these recent developments, Chemed adjusted its full-year earnings per share guidance to $23-$23.15. The company anticipates future performance for VITAS to exceed pre-pandemic growth levels, while implementing a strategy to stabilize Roto-Rooter's performance. These updates reflect recent news and developments within Chemed Corporation.
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