UnitedHealth Group (UNH) Price Target Raised to $300.00 at Piper Jaffray Companies
UnitedHealth Group (NYSE:UNH) had its price target upped by Piper Jaffray Companies to $300.00 in a research note published on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the healthcare conglomerate’s stock. Piper Jaffray Companies also issued estimates for UnitedHealth Group’s FY2018 earnings at $12.80 EPS, Q1 2019 earnings at $3.39 EPS, Q2 2019 earnings at $3.49 EPS, Q3 2019 earnings at $3.85 EPS, FY2019 earnings at $14.47 EPS, Q1 2020 earnings at $3.81 EPS, Q2 2020 earnings at $3.89 EPS and FY2020 earnings at $16.30 EPS.
A number of other equities research analysts have also commented on the stock. Citigroup lowered shares of UnitedHealth Group from a buy rating to a neutral rating and set a $288.00 price objective on the stock. in a research note on Monday, September 10th. Raymond James upped their price objective on shares of UnitedHealth Group from $285.00 to $304.00 and gave the company a strong-buy rating in a research note on Monday, September 24th. Zacks Investment Research lowered shares of UnitedHealth Group from a buy rating to a hold rating in a research note on Tuesday, September 18th. Morgan Stanley upped their price objective on shares of UnitedHealth Group from $278.00 to $305.00 and gave the company an overweight rating in a research note on Wednesday, September 5th. Finally, ValuEngine raised shares of UnitedHealth Group from a hold rating to a buy rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $286.83.
NYSE:UNH opened at $267.30 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.75 and a current ratio of 0.75. UnitedHealth Group has a 52 week low of $202.70 and a 52 week high of $272.81. The firm has a market capitalization of $256.06 billion, a PE ratio of 26.54, a PEG ratio of 1.58 and a beta of 0.73.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Friday, September 7th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, September 6th. UnitedHealth Group’s dividend payout ratio is presently 35.75%.
In related news, Director William C. Ballard, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $258.83, for a total transaction of $2,588,300.00. Following the transaction, the director now directly owns 77,172 shares of the company’s stock, valued at $19,974,428.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Burke sold 15,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $254.79, for a total transaction of $3,821,850.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,568 shares of company stock worth $24,950,027. 0.87% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of UNH. FMR LLC lifted its stake in shares of UnitedHealth Group by 5.1% in the second quarter. FMR LLC now owns 61,622,355 shares of the healthcare conglomerate’s stock valued at $15,118,428,000 after buying an additional 2,981,233 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of UnitedHealth Group by 0.5% in the second quarter. Wells Fargo & Company MN now owns 7,692,899 shares of the healthcare conglomerate’s stock valued at $1,887,377,000 after buying an additional 39,480 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of UnitedHealth Group by 12.0% in the second quarter. Jennison Associates LLC now owns 6,616,652 shares of the healthcare conglomerate’s stock valued at $1,623,329,000 after buying an additional 710,745 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of UnitedHealth Group by 19,286.4% in the first quarter. Summit Trail Advisors LLC now owns 6,228,065 shares of the healthcare conglomerate’s stock valued at $6,228,000 after buying an additional 6,195,939 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of UnitedHealth Group by 5.2% in the second quarter. Morgan Stanley now owns 5,498,557 shares of the healthcare conglomerate’s stock valued at $1,349,017,000 after buying an additional 269,652 shares in the last quarter. 85.35% of the stock is currently owned by institutional investors and hedge funds.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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