UnitedHealth Group (NYSE:UNH) Trading 2.2% Higher - Here's What Happened

Shares of UnitedHealth Group Incorporated (NYSE:UNH - Get Free Report) shot up 2.2% during mid-day trading on Wednesday . The stock traded as high as $303.78 and last traded at $301.44. 7,944,425 shares changed hands during trading, an increase of 19% from the average session volume of 6,663,248 shares. The stock had previously closed at $295.00.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UNH. Erste Group Bank lowered shares of UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of UnitedHealth Group from $525.00 to $405.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Hsbc Global Res lowered shares of UnitedHealth Group from a "hold" rating to a "moderate sell" rating in a report on Wednesday, May 21st. Raymond James downgraded shares of UnitedHealth Group from a "strong-buy" rating to a "market perform" rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird lowered their target price on shares of UnitedHealth Group from $510.00 to $356.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $441.87.

UnitedHealth Group Stock Up 0.3%

The company has a market capitalization of $271.21 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.37 and a beta of 0.56. The business's 50-day moving average is $439.50 and its 200-day moving average is $498.65. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74.

UnitedHealth Group (NYSE:UNH - Get Free Report) last posted its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.29 by ($0.09). The business had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. During the same quarter in the prior year, the firm earned $6.91 earnings per share. As a group, equities analysts predict that UnitedHealth Group Incorporated will post 29.54 earnings per share for the current year.

Insider Activity at UnitedHealth Group

In other news, Director Timothy Patrick Flynn acquired 1,533 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $320.80 per share, with a total value of $491,786.40. Following the completion of the acquisition, the director now owns 6,033 shares of the company's stock, valued at approximately $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John F. Rex acquired 17,175 shares of the business's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $291.12 per share, with a total value of $4,999,986.00. Following the acquisition, the chief financial officer now directly owns 203,796 shares of the company's stock, valued at $59,329,091.52. This represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 109,408 shares of company stock worth $31,607,768 over the last three months. Company insiders own 0.33% of the company's stock.

Institutional Trading of UnitedHealth Group

A number of institutional investors and hedge funds have recently modified their holdings of UNH. NewSquare Capital LLC purchased a new stake in shares of UnitedHealth Group during the fourth quarter worth about $25,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $26,000. Hurley Capital LLC acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $28,000. Bayforest Capital Ltd raised its holdings in UnitedHealth Group by 685.7% in the 1st quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate's stock valued at $29,000 after acquiring an additional 48 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in UnitedHealth Group in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors 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.