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MINNEAPOLIS—Jay Matushak, chief financial officer of NewHealth Inc. (NASDAQ:NEUE), recently sold the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on January 6, sold 4,970 shares at a weighted average price of $7.33 per share, amounting to a total of approximately $36,430.
The shares were sold to cover tax withholding obligations upon the issuance of restricted stock units, according to the filing. These transactions were not motivated by interest on the part of Matushak. Following the sale, Matushak will own 17,747 NeueHealth shares.
The shares traded at prices ranging from $7.18 to $7.50 per share in multiple transactions. Matushak has committed to providing full details of the transactions upon request. Despite performing at moderate debt levels, the stock has shown strong momentum, posting positive returns in both one-month and three-month periods.
In other recent news, RBC Capital upgraded their outlook on shares of NeueHealth, reducing their price target on shares of NeueHealth from $8.00 to $7.00. This adjustment follows the company’s third-quarter results, which, despite exceeding expectations, showed a 9.01% year-over-year decline in revenue. Despite the decline in revenue, the company’s management team has confirmed that their guidance has not changed.
RBC Capital’s decision to lower its price target is a reflection of an update to its valuation model for next year, taking into account the strong third-quarter results and aligning the assessment with the upcoming fiscal period. Despite the reduced price target, RBC Capital maintained a sector perform rating on the company’s stock, indicating that the stock’s expected performance is neutral relative to other companies in the same industry.
These recent developments provide investors with an improved benchmark for NeueHealth’s market evaluation. According to InvestingPro’s analysis, the stock appears to be undervalued at current levels, providing potential insights for those considering NeueHealth for their portfolios.
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