MINNEAPOLIS—Jay Matushak, Chief Financial Officer of NeueHealth, Inc. (NASDAQ:NEUE), recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, dated January 6, involved the sale of 4,970 shares at a weighted average price of $7.33 per share, totaling approximately $36,430.
The shares were sold to cover tax withholding obligations upon the vesting of restricted stock units, as noted in the filing. These transactions were not discretionary on the part of Matushak. Following the sale, Matushak holds 17,747 shares of NeueHealth stock.
The shares were sold in multiple transactions at prices ranging from $7.18 to $7.50 per share. Matushak has committed to providing full details of the transactions upon request. The stock has shown strong momentum, posting positive returns over both one-month and three-month periods, despite operating with moderate debt levels.
In other recent news, RBC Capital has revised its outlook on shares of NeueHealth, reducing the price target from $8.00 to $7.00. This adjustment follows the company's third-quarter results, which, despite exceeding expectations, revealed a year-over-year revenue decline of 9.01%. Despite the drop in revenue, the company's management team has confirmed that their guidance remains unchanged.
RBC Capital's decision to lower the price target is a reflection of an update to their valuation model for the upcoming year, taking into account the solid third-quarter results and aligning the valuation with the forthcoming fiscal period. Despite the lowered price target, RBC Capital has maintained a Sector Perform rating on the company's stock, suggesting a neutral stance on the stock's expected performance relative to other companies in the same industry.
These recent developments provide investors with a revised benchmark for NeueHealth's market valuation. According to InvestingPro analysis, the stock appears undervalued at current levels, offering potential insights for those considering NeueHealth for their portfolios.
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