UnitedHealth Group (NYSE:UNH) Releases FY24 Earnings Guidance

UnitedHealth Group (NYSE:UNH) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $27.50-27.75 for the period, compared to the consensus EPS estimate of $27.69. UnitedHealth Group also updated its FY 2024 guidance to 27.500-27.750 EPS.

UnitedHealth Group Price Performance

Shares of UNH opened at $554.45 on Wednesday. UnitedHealth Group has a 1-year low of $436.38 and a 1-year high of $608.63. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day simple moving average of $584.11 and a two-hundred day simple moving average of $532.57. The stock has a market cap of $510.31 billion, a PE ratio of 33.89, a P/E/G ratio of 1.66 and a beta of 0.58.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.00 by $0.15. The firm had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.56 EPS. As a group, analysts forecast that UnitedHealth Group will post 27.69 EPS for the current year.

UnitedHealth Group Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.52%. UnitedHealth Group’s payout ratio is 51.34%.

Analysts Set New Price Targets

Several analysts recently weighed in on UNH shares. Morgan Stanley raised their target price on shares of UnitedHealth Group from $595.00 to $615.00 and gave the company an overweight rating in a report on Wednesday, July 17th. Royal Bank of Canada increased their target price on UnitedHealth Group from $555.00 to $615.00 and gave the company an outperform rating in a report on Wednesday, July 17th. TD Cowen increased their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the company a buy rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their target price on UnitedHealth Group from $525.00 to $630.00 and gave the stock an overweight rating in a research note on Wednesday, July 17th. Finally, Barclays boosted their price objective on shares of UnitedHealth Group from $560.00 to $604.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, UnitedHealth Group currently has a consensus rating of Buy and an average price target of $617.37.

Insider Activity at UnitedHealth Group

In other news, EVP Erin Mcsweeney sold 1,500 shares of UnitedHealth Group stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $579.03, for a total value of $868,545.00. Following the sale, the executive vice president now owns 7,785 shares of the company’s stock, valued at $4,507,748.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

About UnitedHealth Group

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.