UnitedHealth Group Inc. (UNH) Reaches New 1-Year High on Earnings Beat
UnitedHealth Group Inc. (NYSE:UNH) shares hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $146.36 and last traded at $145.55, with a volume of 3,343,328 shares changing hands. The stock had previously closed at $143.39.
The healthcare conglomerate reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.09. UnitedHealth Group had a net margin of 3.51% and a return on equity of 19.08%. The firm had revenue of $46.30 billion for the quarter, compared to analyst estimates of $46.09 billion. During the same period last year, the firm earned $1.77 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Friday, September 9th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Tuesday, September 6th. UnitedHealth Group’s dividend payout ratio (DPR) is 39.12%.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/unitedhealth-group-inc-unh-reaches-new-1-year-high-on-earnings-beat.html
A number of research analysts recently weighed in on UNH shares. Jefferies Group reissued a “buy” rating and set a $163.00 price target on shares of UnitedHealth Group in a research report on Sunday. Evercore ISI started coverage on shares of UnitedHealth Group in a research report on Thursday, September 22nd. They set a “buy” rating and a $155.00 price target on the stock. Vetr raised shares of UnitedHealth Group from a “buy” rating to a “buy” rating in a research report on Friday, October 7th. Cowen and Company set a $150.00 price target on shares of UnitedHealth Group and gave the company a “buy” rating in a research report on Tuesday, September 6th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $161.00 price target (up from $145.00) on shares of UnitedHealth Group in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $155.28.
In other news, Director Richard T. Burke sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $135.31, for a total value of $5,412,400.00. Following the completion of the sale, the director now directly owns 2,003,550 shares in the company, valued at approximately $271,100,350.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.65% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of UNH. Omega Advisors Inc. purchased a new stake in UnitedHealth Group during the first quarter worth approximately $64,386,000. Edgar Lomax Co. VA raised its stake in UnitedHealth Group by 0.7% in the first quarter. Edgar Lomax Co. VA now owns 503,143 shares of the healthcare conglomerate’s stock worth $64,855,000 after buying an additional 3,438 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in UnitedHealth Group by 8.8% in the second quarter. Gateway Investment Advisers LLC now owns 815,807 shares of the healthcare conglomerate’s stock worth $115,192,000 after buying an additional 66,274 shares in the last quarter. Origin Asset Management LLP purchased a new stake in UnitedHealth Group during the first quarter worth approximately $34,616,000. Finally, Panagora Asset Management Inc. raised its stake in UnitedHealth Group by 5.0% in the first quarter. Panagora Asset Management Inc. now owns 947,733 shares of the healthcare conglomerate’s stock worth $122,163,000 after buying an additional 44,707 shares in the last quarter. Institutional investors own 85.80% of the company’s stock.
The company’s 50 day moving average price is $137.12 and its 200-day moving average price is $136.75. The stock has a market capitalization of $138.73 billion, a P/E ratio of 22.79 and a beta of 0.57.
About UnitedHealth Group
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.
Receive News & Ratings for UnitedHealth Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UnitedHealth Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.