UnitedHealth Group (NYSE:UNH) Issues FY 2024 Earnings Guidance

UnitedHealth Group (NYSE:UNH) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 27.500-28.000 for the period, compared to the consensus EPS estimate of 27.520. The company issued revenue guidance of -. UnitedHealth Group also updated its FY24 guidance to $27.50-28.00 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on UNH. Oppenheimer restated an outperform rating and issued a $610.00 price target on shares of UnitedHealth Group in a report on Wednesday, January 17th. Cantor Fitzgerald reiterated an overweight rating and set a $591.00 price objective on shares of UnitedHealth Group in a research note on Wednesday, April 10th. Bank of America reiterated a buy rating and set a $675.00 price objective on shares of UnitedHealth Group in a research note on Thursday, March 7th. Stephens reiterated an overweight rating and set a $605.00 price objective on shares of UnitedHealth Group in a research note on Thursday, February 8th. Finally, TD Cowen dropped their target price on shares of UnitedHealth Group from $607.00 to $546.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, UnitedHealth Group presently has a consensus rating of Moderate Buy and an average target price of $569.68.

UnitedHealth Group Stock Up 3.0 %

UNH stock opened at $493.16 on Friday. The firm has a market cap of $454.66 billion, a PE ratio of 30.14, a P/E/G ratio of 1.31 and a beta of 0.54. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.79 and a current ratio of 0.85. The firm’s fifty day moving average is $488.97 and its 200 day moving average is $515.22. UnitedHealth Group has a one year low of $436.38 and a one year high of $554.70.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, April 16th. The healthcare conglomerate reported $6.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.63 by $0.28. The business had revenue of $99.80 billion for the quarter, compared to the consensus estimate of $99.23 billion. UnitedHealth Group had a net margin of 4.05% and a return on equity of 26.50%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $6.26 earnings per share. On average, research analysts forecast that UnitedHealth Group will post 27.74 EPS for the current year.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Monday, March 11th were issued a dividend of $1.88 per share. This represents a $7.52 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, March 8th. UnitedHealth Group’s payout ratio is 45.97%.

Insider Transactions at UnitedHealth Group

In other news, EVP Erin Mcsweeney sold 1,236 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the transaction, the executive vice president now directly owns 9,364 shares of the company’s stock, valued at $4,527,306.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Erin Mcsweeney sold 1,236 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the transaction, the executive vice president now directly owns 9,364 shares of the company’s stock, valued at $4,527,306.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas E. Roos sold 858 shares of UnitedHealth Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $525.79, for a total transaction of $451,127.82. Following the transaction, the chief accounting officer now directly owns 32,289 shares in the company, valued at $16,977,233.31. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On UnitedHealth Group

A number of institutional investors have recently bought and sold shares of UNH. Enlightenment Research LLC acquired a new stake in shares of UnitedHealth Group during the first quarter valued at about $204,000. Wick Capital Partners LLC grew its holdings in shares of UnitedHealth Group by 11.6% in the first quarter. Wick Capital Partners LLC now owns 433 shares of the healthcare conglomerate’s stock valued at $204,000 after purchasing an additional 45 shares in the last quarter. Wealthstar Advisors LLC purchased a new position in UnitedHealth Group in the fourth quarter worth approximately $200,000. Fortis Capital Advisors LLC purchased a new position in UnitedHealth Group in the fourth quarter worth approximately $182,000. Finally, Pin Oak Investment Advisors Inc. lifted its stake in UnitedHealth Group by 8.8% in the second quarter. Pin Oak Investment Advisors Inc. now owns 370 shares of the healthcare conglomerate’s stock worth $178,000 after acquiring an additional 30 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.

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.