CINCINNATI—Lee Spencer S, Executive Vice President of Chemed Corp (NYSE:CHE), a company with a market capitalization of $8.6 billion and an "GREAT" financial health rating according to InvestingPro, has sold a portion of company stock, as detailed in a recent SEC filing. According to the Form 4 submitted on November 29, Lee sold 732 shares of Chemed Corp at an average price of $575.623 per share. The total value of the transaction was approximately $421,356. Following this sale, Lee retains ownership of 18,287 shares of the company. The stock, which generally trades with low price volatility, is currently trading near its InvestingPro Fair Value. Notably, management has been actively buying back shares, and the company has maintained dividend payments for 54 consecutive years.For deeper insights into insider trading patterns and 12+ additional ProTips, including comprehensive valuation metrics, access the full Pro Research Report available on InvestingPro.
In other recent news, Chemed Corporation has announced an additional $300 million authorization for stock repurchases and maintained its quarterly cash dividend of 50 cents per share. This comes alongside Chemed's mixed third-quarter results, where its VITAS Healthcare segment saw a 6.3% increase in patient admissions and a 17.3% rise in revenue to $391.4 million. However, the Roto-Rooter division reported a 6.9% decline in revenue to $214.8 million. RBC (TSX:RY) Capital Markets has adjusted its price target for Chemed to $633, maintaining an Outperform rating, and highlighted the continued momentum in the VITAS segment. Chemed has also adjusted its full-year earnings per share guidance to $23-$23.15, anticipating VITAS to exceed pre-pandemic growth levels while implementing strategies to stabilize Roto-Rooter's performance. These recent developments reflect Chemed's commitment to returning value to its shareholders and demonstrate the company's financial stability and cash flow.
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