Royal Bank of Canada Lowers NeueHealth (NYSE:NEUE) Price Target to $7.00

NeueHealth (NYSE:NEUE) had its target price reduced by equities research analysts at Royal Bank of Canada from $8.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 25.00% from the company’s current price.

NeueHealth Stock Down 5.4 %

NEUE opened at $5.60 on Monday. The company has a market capitalization of $46.37 million, a price-to-earnings ratio of -0.11 and a beta of 0.78. NeueHealth has a twelve month low of $4.66 and a twelve month high of $16.59. The firm has a 50-day moving average price of $5.23 and a 200-day moving average price of $5.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NEUE. Pathway Capital Management LP bought a new stake in NeueHealth during the second quarter valued at $61,000. Renaissance Technologies LLC purchased a new stake in NeueHealth in the second quarter valued at approximately $312,000. Partners Group Holding AG bought a new stake in NeueHealth during the third quarter valued at approximately $463,000. Deer Management Co. LLC purchased a new position in NeueHealth in the 2nd quarter worth approximately $5,436,000. Finally, NEA Management Company LLC bought a new position in shares of NeueHealth in the 2nd quarter worth $14,834,000. 63.88% of the stock is currently owned by hedge funds and other institutional investors.

About NeueHealth

NeueHealth, Inc, a healthcare company, provides various healthcare services for health consumers, providers, and payors in the United States. It operates through two segments: NeueCare and NeueSolutions. The NeueCare segment delivers healthcare services to ACA marketplace, medicare, and medicaid through owned and affiliated clinics.