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MINNEAPOLIS—Jeffrey J. Scherman, Chief Accounting Officer of NeueHealth, Inc. (NASDAQ:NEUE), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Scherman sold 1,368 shares of common stock on January 6, 2025, at a weighted average price of $7.33 per share. This transaction amounts to a total value of $10,027. The sale comes as NeueHealth shares show strong momentum, with a 44% gain over the past six months, according to InvestingPro data.
Following the sale, Scherman retains ownership of 5,942 shares of NeueHealth. The sale was executed to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. The shares were sold in multiple transactions, with prices ranging from $7.18 to $7.50 per share. With a current market capitalization of $60.9 million and trading well above its 52-week low of $3.79, InvestingPro analysis suggests the stock remains undervalued despite recent gains. Subscribers can access 12 additional InvestingPro Tips for deeper insights into NEUE's financial health and market position.
In other recent news, NeueHealth's stock target has been reduced by RBC Capital from $8.00 to $7.00, maintaining a Sector Perform rating. The adjustment came after the company's third-quarter results, which, despite exceeding expectations, revealed a 9.01% year-over-year decline in revenue. The company's current ratio, a key liquidity indicator, also raised concerns at 0.68.
RBC Capital's updated outlook takes into account these results while aligning the valuation with the upcoming fiscal period. The unchanged guidance from NeueHealth's management team was another factor considered in this revision.
The sustained Sector Perform rating implies that NeueHealth is expected to perform in line with sector expectations, a neutral stance on the company's expected performance compared to its industry peers. These recent developments provide investors with a revised benchmark for NeueHealth's market valuation as per RBC Capital's analysis.
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