FY2024 EPS Estimate for UnitedHealth Group Raised by Analyst

UnitedHealth Group Incorporated (NYSE:UNH) – Investment analysts at Cantor Fitzgerald increased their FY2024 earnings per share estimates for UnitedHealth Group in a research report issued to clients and investors on Wednesday, October 16th. Cantor Fitzgerald analyst S. James now forecasts that the healthcare conglomerate will earn $27.56 per share for the year, up from their prior forecast of $27.50. Cantor Fitzgerald has a “Overweight” rating and a $644.00 price objective on the stock. The consensus estimate for UnitedHealth Group’s current full-year earnings is $27.68 per share.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group raised UnitedHealth Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $481.00 to $647.00 in a research note on Wednesday, July 17th. Barclays increased their price objective on UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their target price on UnitedHealth Group from $615.00 to $595.00 and set an “outperform” rating on the stock in a research report on Wednesday. TD Cowen increased their target price on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, KeyCorp began coverage on UnitedHealth Group in a research report on Friday, October 11th. They set an “overweight” rating and a $675.00 target price on the stock. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $615.16.

UnitedHealth Group Trading Down 0.9 %

Shares of NYSE UNH opened at $566.00 on Thursday. UnitedHealth Group has a fifty-two week low of $436.38 and a fifty-two week high of $608.63. The company 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. The business’s 50 day moving average price is $584.20 and its 200-day moving average price is $533.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping the consensus estimate of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The firm had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. During the same period in the prior year, the business posted $6.56 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, September 16th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 55.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. purchased a new stake in shares of UnitedHealth Group during the third quarter worth $27,000. Global Wealth Strategies & Associates lifted its position in UnitedHealth Group by 152.4% during the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Macroview Investment Management LLC grew its holdings in UnitedHealth Group by 671.4% in the 2nd quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock valued at $28,000 after buying an additional 47 shares in the last quarter. West Financial Advisors LLC purchased a new position in shares of UnitedHealth Group during the 3rd quarter worth $32,000. Finally, Delos Wealth Advisors LLC grew its holdings in shares of UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock valued at $30,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

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.