UnitedHealth Group (NYSE:UNH) PT Raised to $644.00

UnitedHealth Group (NYSE:UNH) had its target price raised by research analysts at Cantor Fitzgerald from $591.00 to $644.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the healthcare conglomerate’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 13.78% from the stock’s current price. Cantor Fitzgerald also issued estimates for UnitedHealth Group’s FY2024 earnings at $27.56 EPS.

A number of other research firms have also recently commented on UNH. StockNews.com cut shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Barclays increased their price target on UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. TD Cowen upped their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Bank of America cut their price target on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their target price on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Buy” and an average target price of $615.16.

UnitedHealth Group Trading Down 0.9 %

Shares of UnitedHealth Group stock opened at $566.00 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The firm has a market cap of $522.66 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 1.69 and a beta of 0.58. UnitedHealth Group has a twelve month low of $436.38 and a twelve month high of $608.63. The business has a 50-day moving average price of $584.20 and a 200-day moving average price of $533.07.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 3.66% and a return on equity of 26.55%. 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 posted $6.56 EPS. Equities research analysts anticipate that UnitedHealth Group will post 27.68 EPS for the current fiscal year.

Hedge Funds Weigh In On UnitedHealth Group

Hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC grew its holdings in shares of UnitedHealth Group by 3.2% during the first quarter. Harbor Investment Advisory LLC now owns 35,946 shares of the healthcare conglomerate’s stock valued at $17,783,000 after buying an additional 1,129 shares during the last quarter. Austin Private Wealth LLC increased its holdings in shares of UnitedHealth Group by 9.8% in the first quarter. Austin Private Wealth LLC now owns 1,246 shares of the healthcare conglomerate’s stock valued at $573,000 after purchasing an additional 111 shares during the period. Capital Insight Partners LLC lifted its holdings in shares of UnitedHealth Group by 3.8% during the first quarter. Capital Insight Partners LLC now owns 9,045 shares of the healthcare conglomerate’s stock worth $4,475,000 after purchasing an additional 332 shares during the period. Collective Family Office LLC increased its holdings in UnitedHealth Group by 4.3% in the 1st quarter. Collective Family Office LLC now owns 1,577 shares of the healthcare conglomerate’s stock worth $780,000 after buying an additional 65 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in shares of UnitedHealth Group in the 1st quarter valued at $282,469,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

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.