Q1 2024 EPS Estimates for UnitedHealth Group Incorporated (NYSE:UNH) Boosted by Analyst

UnitedHealth Group Incorporated (NYSE:UNH – Get Rating) – Research analysts at SVB Leerink upped their Q1 2024 earnings per share (EPS) estimates for shares of UnitedHealth Group in a report released on Tuesday, May 23rd. SVB Leerink analyst W. Mayo now expects that the healthcare conglomerate will post earnings of $7.17 per share for the quarter, up from their previous estimate of $7.15. The consensus estimate for UnitedHealth Group’s current full-year earnings is $24.98 per share.

UnitedHealth Group (NYSE:UNH – Get Rating) last released its quarterly earnings data on Friday, April 14th. The healthcare conglomerate reported $6.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.24 by $0.02. UnitedHealth Group had a return on equity of 27.05% and a net margin of 6.16%. The firm had revenue of $91.93 billion during the quarter, compared to analysts’ expectations of $89.77 billion. During the same quarter in the prior year, the business posted $5.49 earnings per share. UnitedHealth Group’s revenue was up 14.7% compared to the same quarter last year.

UNH has been the subject of several other reports. Raymond James reaffirmed a “strong-buy” rating and set a $630.00 price objective on shares of UnitedHealth Group in a report on Friday, April 14th. Loop Capital raised their target price on shares of UnitedHealth Group from $590.00 to $600.00 and gave the company a “buy” rating in a report on Monday, April 17th. Cantor Fitzgerald started coverage on shares of UnitedHealth Group in a research report on Thursday, April 20th. They issued an “overweight” rating and a $591.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $605.00 target price on shares of UnitedHealth Group in a research note on Tuesday, February 28th. Finally, TD Cowen cut their price target on UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating for the company in a report on Monday, April 17th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and a consensus target price of $600.88.

UnitedHealth Group Trading Up 0.3 %

Shares of UnitedHealth Group stock opened at $480.83 on Thursday. The company has a 50-day moving average of $489.57 and a two-hundred day moving average of $499.93. The stock has a market cap of $447.67 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.39 and a beta of 0.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.71. UnitedHealth Group has a 12-month low of $449.70 and a 12-month high of $558.10.

Institutional Investors Weigh In On UnitedHealth Group

A number of institutional investors have recently modified their holdings of UNH. Moneta Group Investment Advisors LLC increased its holdings in shares of UnitedHealth Group by 100,076.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock worth $6,268,753,000 after acquiring an additional 11,812,017 shares during the period. Norges Bank acquired a new position in shares of UnitedHealth Group during the fourth quarter worth approximately $5,210,004,000. Gateway Advisory LLC increased its position in UnitedHealth Group by 48,406.9% in the 1st quarter. Gateway Advisory LLC now owns 4,762,407 shares of the healthcare conglomerate’s stock valued at $4,762,000 after acquiring an additional 4,752,589 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of UnitedHealth Group by 264.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,511,174 shares of the healthcare conglomerate’s stock worth $732,934,000 after purchasing an additional 3,997,959 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in UnitedHealth Group by 1,682.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,691,542 shares of the healthcare conglomerate’s stock worth $1,372,606,000 after purchasing an additional 2,540,538 shares during the period. Institutional investors own 86.31% of the company’s stock.

Insider Activity at UnitedHealth Group

In other news, EVP Erin Mcsweeney sold 1,684 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $488.46, for a total value of $822,566.64. Following the completion of the sale, the executive vice president now owns 8,675 shares of the company’s stock, valued at $4,237,390.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $487.49, for a total transaction of $3,002,938.40. Following the completion of the sale, the chief executive officer now owns 86,564 shares in the company, valued at approximately $42,199,084.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Erin Mcsweeney sold 1,684 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $488.46, for a total transaction of $822,566.64. Following the completion of the sale, the executive vice president now owns 8,675 shares in the company, valued at approximately $4,237,390.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,852 shares of company stock worth $4,313,962. 0.35% of the stock is currently owned by corporate insiders.

UnitedHealth Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Monday, March 13th were paid a dividend of $1.65 per share. The ex-dividend date was Friday, March 10th. This represents a $6.60 annualized dividend and a yield of 1.37%. UnitedHealth Group’s dividend payout ratio is currently 30.18%.

About UnitedHealth Group

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UnitedHealth Group, Inc engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience.