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These shares were sold to cover tax withholding obligations following the vesting of restricted stock units, as noted in the filing. After the transaction, Michael holds 7,558 shares of NeueHealth. The shares were sold in multiple transactions at prices ranging from $7.18 to $7.50 per share. With the stock currently trading at $7.42, near its recent range, InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to make informed investment decisions. With the stock currently trading at $7.42, near its recent range, InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to make informed investment decisions.
These shares were sold to cover tax withholding obligations following the vesting of restricted stock units, as noted in the filing. After the transaction, Michael holds 7,558 shares of NeueHealth. The shares were sold in multiple transactions at prices ranging from $7.18 to $7.50 per share.
In other recent news, RBC Capital has revised its outlook on NeueHealth, cutting the price target to $7.00 from the previous $8.00, while maintaining a Sector Perform rating. This decision was made following NeueHealth's third-quarter results, which, despite showing strong performance, revealed a 9.01% year-over-year decline in revenue. The company's current ratio of 0.68 was also noted as a point of concern.
The adjustment in the price target is a reflection of RBC Capital's updated valuation model for the upcoming fiscal year, taking into account the third-quarter results and the expectations for the next fiscal period. Despite the reduction in the price target, RBC Capital's Sector Perform rating indicates a neutral stance on NeueHealth's expected performance relative to other companies in the industry.
These recent developments offer investors a revised benchmark for NeueHealth's market valuation. However, according to InvestingPro's analysis, the stock appears undervalued at current levels. Investors should consider these factors when evaluating NeueHealth's stock for their portfolios.
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