UnitedHealth Group (NYSE:UNH - Get Free Report) released its quarterly earnings results on Tuesday. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.63 by $0.28, RTT News reports. UnitedHealth Group had a return on equity of 26.39% and a net margin of 6.02%. The firm had revenue of $99.80 billion for the quarter, compared to the consensus estimate of $99.23 billion. During the same period last year, the business posted $6.26 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. UnitedHealth Group updated its FY 2024 guidance to 27.500-28.000 EPS and its FY24 guidance to $27.50-28.00 EPS.
UnitedHealth Group Price Performance
UnitedHealth Group stock traded up $11.30 during trading on Wednesday, reaching $480.19. The company had a trading volume of 6,790,766 shares, compared to its average volume of 4,436,788. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $442.70 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.22 and a beta of 0.54. UnitedHealth Group has a 1-year low of $436.38 and a 1-year high of $554.70. The firm's 50-day simple moving average is $490.31 and its 200 day simple moving average is $515.63.
UnitedHealth Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Monday, March 11th were paid a $1.88 dividend. This represents a $7.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, March 8th. UnitedHealth Group's dividend payout ratio is currently 31.54%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on UNH shares. Erste Group Bank restated a "hold" rating on shares of UnitedHealth Group in a research note on Wednesday, March 13th. TD Cowen dropped their target price on shares of UnitedHealth Group from $607.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, April 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $591.00 price objective on shares of UnitedHealth Group in a research note on Wednesday, April 10th. Royal Bank of Canada lowered their price objective on UnitedHealth Group from $596.00 to $555.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Truist Financial reaffirmed a "buy" rating and issued a $600.00 price objective on shares of UnitedHealth Group in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $571.20.
View Our Latest Stock Analysis on UnitedHealth Group
Insiders Place Their Bets
In related news, EVP Erin Mcsweeney sold 1,236 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $483.48, for a total transaction of $597,581.28. Following the transaction, the executive vice president now directly owns 9,364 shares in the company, valued at $4,527,306.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Thomas E. Roos sold 858 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $525.79, for a total value of $451,127.82. Following the sale, the chief accounting officer now owns 32,289 shares in the company, valued at approximately $16,977,233.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Erin Mcsweeney sold 1,236 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the completion of the sale, the executive vice president now owns 9,364 shares in the company, valued at $4,527,306.72. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in UNH. Strategic Investment Solutions Inc. IL purchased a new stake in UnitedHealth Group in the first quarter valued at approximately $35,000. Power Corp of Canada acquired a new position in UnitedHealth Group in the first quarter valued at $48,000. O Dell Group LLC acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth about $74,000. Pacific Center for Financial Services acquired a new stake in UnitedHealth Group during the 1st quarter worth approximately $77,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in UnitedHealth Group by 84.0% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 173 shares of the healthcare conglomerate's stock valued at $91,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 87.86% of the company's stock.
About UnitedHealth Group
(
Get Free Report)
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.
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