Investors follow Chemed Corp (NYSE:) has seen significant trading activity from the company’s Vice President and Chief Financial Officer, Michael D. Witzeman. According to the latest SEC filings, Witzeman sold more than $1.7 million in shares and purchased additional shares totaling approximately $1 million.
On March 20, 2024, Witzeman purchased 2,600 shares of Chemed Capital at $413.19 per share for 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 sold 355 shares at a significantly higher price of $647.44 each, for a total of $229,841.
The next day, March 21, Wietseman made a larger sale, selling 2,650 shares. They were sold at a weighted average price of $643.14 per share, with a range of $642.49 to $643.27, for a total of $1,704,321. Following this sale, his direct stake in the company was reduced to 2,882 shares.
The transactions represent a marked change in the composition of Witzeman’s holdings in Chemed, a company known for its home health services. Recent activity may be of interest to investors keeping an eye on insider trading patterns within the company.
The SEC filing also refers to a derivative transaction in which Wietseman exercised options on the same 2,600 shares at a conversion price of $413.19, to vest in three equal annual installments beginning October 29, 2020. Following this transaction, his direct ownership of equity derivatives is 38,933 shares.
Investors and followers of Chemed Corp may request details of the exact number of shares sold in each price category within the stated range by contacting the company directly.
InvestingAbout Insights
Chemed Corp (NYSE:CHE) has demonstrated strong financial performance and investor interest, as evidenced by recent insider trading and market performance. According to InvestingPro, Chemed boasts a strong market capitalization of $9.7 billion and an elevated P/E ratio of 35.45, indicating a strong earnings-based valuation among investors. The company’s revenue growth for the trailing twelve months as of Q1 2023 was 6.06%, indicating sustained business expansion. Additionally, Chemed stock is trading near its 52-week high with a price percentage of 98.36% from that peak.
One of InvestingPro’s notable tips for Chemed Corp is the company’s solid dividend track record, increasing its dividend for 15 consecutive years. This is a sign of Chemed’s commitment to returning profits to shareholders and its confidence in maintaining healthy cash flow. Moreover, three analysts have revised their earnings estimates higher for the coming period, suggesting a positive outlook for the company’s future performance.
Investors considering Chemed Corp as part of their portfolio can gain further insight by exploring InvestingPro’s additional tips. There are currently 16 tips available, including observations about a company’s low price volatility and its ability to cover interest payments with cash flow, which can be critical to assessing a company’s financial health and investment strength.
For those interested in diving deeper into Chemed’s financial performance and strategic positioning, an additional 10% discount is available on annual or two-year Pro and Pro+ subscriptions using a coupon code. PRONEWS24. Visit https://www.investing.com/pro/CHE to learn more about this opportunity.
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