In a recent transaction disclosed in an SEC filing, George Lawrence Mikan III, the CEO and President of NeueHealth, Inc. (NASDAQ:NEUE), sold 31,798 shares of the company's common stock. The shares were sold at a weighted average price of $7.33 per share, totaling approximately $233,079. The transaction comes as NeueHealth, currently valued at approximately $61 million, shows strong momentum with a 44% price return over the past six months. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value.
The sale was conducted on January 6, 2025, and was part of a transaction to cover tax withholding obligations upon the vesting of restricted stock units, according to the filing. Following this transaction, Mikan holds 146,539 shares of NeueHealth directly.
The shares were sold in multiple transactions at prices ranging from $7.18 to $7.50 per share. Mikan has committed to providing further details on the specific sale prices upon request.
In other recent news, RBC Capital has adjusted its outlook on NeueHealth, reducing the stock target from $8.00 to $7.00, while maintaining a Sector Perform rating. This decision follows NeueHealth's third-quarter results, which exceeded expectations but also revealed a 9.01% year-over-year revenue decline. Despite the revenue dip, the company's management team confirmed that their guidance remains unchanged.
RBC Capital's updated valuation model for the upcoming year reflects the third-quarter results and anticipates the forthcoming fiscal period. The sustained Sector Perform rating suggests NeueHealth's stock is expected to perform in line with sector expectations, indicating a neutral stance on the stock's performance relative to industry peers.
These recent developments provide investors with a revised benchmark for NeueHealth's market valuation, as analyzed by RBC Capital. According to InvestingPro analysis, the stock appears undervalued at current levels, offering additional key insights for potential investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.