UnitedHealth Group (NYSE:UNH) Announces Earnings Results

UnitedHealth Group (NYSE:UNH) announced its quarterly earnings results on Tuesday. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15, Briefing.com reports. The business had revenue of $100.82 billion for the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.56 EPS. UnitedHealth Group updated its FY 2024 guidance to 27.500-27.750 EPS and its FY24 guidance to $27.50-27.75 EPS.

UnitedHealth Group Price Performance

Shares of UnitedHealth Group stock opened at $554.45 on Wednesday. The stock has a 50 day moving average of $584.11 and a 200 day moving average of $532.57. UnitedHealth Group has a 12 month low of $436.38 and a 12 month high of $608.63. The firm has a market cap of $510.31 billion, a PE ratio of 33.89, a PEG ratio of 1.66 and a beta of 0.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67.

UnitedHealth Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s payout ratio is presently 51.34%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com cut UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Truist Financial boosted their target price on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price target on UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Finally, TD Cowen upped their price target on UnitedHealth Group from $546.00 to $601.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $617.37.

Insider Activity at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the completion of the transaction, the executive vice president now directly owns 7,785 shares of the company’s stock, valued at approximately $4,507,748.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.