Oppenheimer Comments on UnitedHealth Group Incorporated’s Q1 2024 Earnings (NYSE:UNH)

UnitedHealth Group Incorporated (NYSE:UNHGet Rating) – Analysts at Oppenheimer issued their Q1 2024 earnings per share estimates for shares of UnitedHealth Group in a research report issued to clients and investors on Thursday, January 19th. Oppenheimer analyst M. Wiederhorn forecasts that the healthcare conglomerate will post earnings per share of $7.11 for the quarter. The consensus estimate for UnitedHealth Group’s current full-year earnings is $24.82 per share. Oppenheimer also issued estimates for UnitedHealth Group’s Q2 2024 earnings at $7.07 EPS, Q3 2024 earnings at $7.18 EPS, Q4 2024 earnings at $6.79 EPS and FY2025 earnings at $31.79 EPS.

Several other research firms have also weighed in on UNH. UBS Group lowered their price target on UnitedHealth Group from $590.00 to $550.00 and set a “neutral” rating on the stock in a research report on Wednesday. Loop Capital boosted their price target on UnitedHealth Group from $575.00 to $590.00 in a research report on Tuesday, January 17th. Royal Bank of Canada boosted their target price on UnitedHealth Group from $588.00 to $592.00 and gave the stock an “outperform” rating in a report on Monday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on UnitedHealth Group from $569.00 to $615.00 and gave the stock a “buy” rating in a report on Tuesday, October 18th. Finally, Morgan Stanley reissued an “overweight” rating and set a $587.00 target price on shares of UnitedHealth Group in a report on Wednesday, November 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $599.28.

UnitedHealth Group Stock Up 0.5 %

Shares of UnitedHealth Group stock opened at $486.72 on Friday. The firm has a market cap of $454.77 billion, a PE ratio of 22.97, a P/E/G ratio of 1.35 and a beta of 0.73. UnitedHealth Group has a 52-week low of $445.73 and a 52-week high of $558.10. The business’s 50 day simple moving average is $519.23 and its 200 day simple moving average is $524.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.82 and a current ratio of 0.77.

UnitedHealth Group (NYSE:UNHGet Rating) last announced its earnings results on Friday, January 13th. The healthcare conglomerate reported $5.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $0.17. UnitedHealth Group had a return on equity of 27.04% and a net margin of 6.21%. The business had revenue of $82.79 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the firm earned $4.48 EPS. UnitedHealth Group’s revenue for the quarter was up 12.3% compared to the same quarter last year.

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Monday, December 5th were given a dividend of $1.65 per share. The ex-dividend date of this dividend was Friday, December 2nd. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.36%. UnitedHealth Group’s payout ratio is 31.15%.

Insider Activity

In other news, EVP Erin Mcsweeney sold 450 shares of the business’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $542.30, for a total transaction of $244,035.00. Following the completion of the transaction, the executive vice president now owns 8,736 shares of the company’s stock, valued at approximately $4,737,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On UnitedHealth Group

A number of institutional investors have recently modified their holdings of the business. TimeScale Financial Inc. boosted its position in shares of UnitedHealth Group by 276.9% during the 3rd quarter. TimeScale Financial Inc. now owns 49 shares of the healthcare conglomerate’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Pflug Koory LLC lifted its holdings in shares of UnitedHealth Group by 160.0% in the third quarter. Pflug Koory LLC now owns 52 shares of the healthcare conglomerate’s stock valued at $26,000 after purchasing an additional 32 shares in the last quarter. Urban Wealth Management LLC purchased a new stake in shares of UnitedHealth Group during the second quarter valued at approximately $29,000. Knott David M Jr purchased a new stake in shares of UnitedHealth Group during the second quarter valued at approximately $29,000. Finally, Rothschild & Co Wealth Management UK Ltd purchased a new stake in UnitedHealth Group in the second quarter worth $31,000. Institutional investors and hedge funds own 86.31% of the company’s stock.

About UnitedHealth Group

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UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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 well-being services to individuals age 50 and older addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.

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Earnings History and Estimates for UnitedHealth Group (NYSE:UNH)

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