UnitedHealth Group Inc. (UNH) Sets New 52-Week High at $142.94
Shares of UnitedHealth Group Inc. (NYSE:UNH) reached a new 52-week high on Wednesday . The stock traded as high as $142.94 and last traded at $142.91, with a volume of 1,959,728 shares trading hands. The stock had previously closed at $141.56.
UNH has been the topic of several research analyst reports. Mizuho raised their price objective on UnitedHealth Group from $131.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, March 14th. FBR & Co reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research note on Thursday, March 17th. Cowen and Company reaffirmed an “outperform” rating on shares of UnitedHealth Group in a research note on Tuesday, April 5th. Cleveland Research initiated coverage on UnitedHealth Group in a research note on Friday, April 8th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of UnitedHealth Group in a research note on Tuesday, April 19th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. UnitedHealth Group presently has an average rating of “Buy” and a consensus price target of $146.02.
The company has a market cap of $133.87 billion and a P/E ratio of 22.64. The stock’s 50-day moving average is $137.20 and its 200 day moving average is $126.00.
UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 19th. The healthcare conglomerate reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.09. The company had revenue of $44.50 billion for the quarter, compared to analysts’ expectations of $43.96 billion. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Equities analysts forecast that UnitedHealth Group Inc. will post $7.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Friday, June 17th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, June 15th. This is an increase from UnitedHealth Group’s previous quarterly dividend of $0.50.
In other UnitedHealth Group news, Director Gail R. Wilensky sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $139.80, for a total transaction of $768,900.00. Following the completion of the transaction, the director now owns 59,019 shares of the company’s stock, valued at approximately $8,250,856.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Ballard, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $134.87, for a total value of $674,350.00. Following the transaction, the director now directly owns 73,229 shares of the company’s stock, valued at approximately $9,876,395.23. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in UNH. Asymmetry Capital Management L.P. acquired a new position in UnitedHealth Group during the fourth quarter worth approximately $4,198,000. Investment House LLC raised its position in UnitedHealth Group by 0.5% in the fourth quarter. Investment House LLC now owns 9,975 shares of the healthcare conglomerate’s stock worth $1,173,000 after buying an additional 50 shares during the last quarter. Westport Resources Management Inc. raised its position in UnitedHealth Group by 3.1% in the fourth quarter. Westport Resources Management Inc. now owns 10,093 shares of the healthcare conglomerate’s stock worth $1,187,000 after buying an additional 300 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in UnitedHealth Group by 4.0% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 13,904 shares of the healthcare conglomerate’s stock worth $1,636,000 after buying an additional 536 shares during the last quarter. Finally, Matterhorn Capital Management LLC raised its position in UnitedHealth Group by 12.6% in the fourth quarter. Matterhorn Capital Management LLC now owns 53,207 shares of the healthcare conglomerate’s stock worth $6,259,000 after buying an additional 5,970 shares during the last quarter.
UnitedHealth Group Incorporated is a diversified healthcare company. The Company operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight and OptumRx. The Company conducts its operations through two business platforms: health benefits operating under UnitedHealthcare and health services operating under Optum.
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