UnitedHealth Group (NYSE:UNH – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $405.00 to $418.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the healthcare conglomerate’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 38.39% from the company’s current price.
Several other brokerages also recently issued reports on UNH. TD Cowen downgraded shares of UnitedHealth Group from a “buy” rating to a “hold” rating and set a $308.00 price objective for the company. in a research report on Monday, May 19th. Bank of America downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $560.00 to $350.00 in a research note on Wednesday, May 14th. KeyCorp reduced their price objective on UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Robert W. Baird cut UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 target price on the stock. in a research note on Wednesday, June 11th. Finally, Barclays decreased their price target on shares of UnitedHealth Group to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, UnitedHealth Group has a consensus rating of “Moderate Buy” and an average target price of $427.09.
Check Out Our Latest Stock Report on UnitedHealth Group
UnitedHealth Group Trading Down 1.7%
UnitedHealth Group (NYSE:UNH – Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The business had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. During the same period in the prior year, the business earned $6.91 EPS. Equities research analysts anticipate that UnitedHealth Group will post 29.54 EPS for the current year.
Insider Activity at UnitedHealth Group
In other news, Director John H. Noseworthy purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $312.16 per share, with a total value of $93,648.00. Following the acquisition, the director now owns 6,063 shares in the company, valued at approximately $1,892,626.08. This trade represents a 5.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Patrick Flynn acquired 1,533 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $320.80 per share, for a total transaction of $491,786.40. Following the completion of the acquisition, the director now owns 6,033 shares in the company, valued at approximately $1,935,386.40. This represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 109,408 shares of company stock worth $31,607,768. Company insiders own 0.28% of the company’s stock.
Hedge Funds Weigh In On UnitedHealth Group
Several institutional investors and hedge funds have recently modified their holdings of UNH. Financial Management Professionals Inc. raised its position in shares of UnitedHealth Group by 0.8% in the first quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after buying an additional 17 shares in the last quarter. Richwood Investment Advisors LLC raised its holdings in UnitedHealth Group by 0.4% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock valued at $2,654,000 after acquiring an additional 20 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of UnitedHealth Group by 28.6% during the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock worth $47,000 after purchasing an additional 20 shares in the last quarter. 44 Wealth Management LLC raised its stake in UnitedHealth Group by 1.6% in the fourth quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock valued at $662,000 after purchasing an additional 21 shares in the last quarter. Finally, Prentice Wealth Management LLC increased its holdings in UnitedHealth Group by 0.8% in the 4th quarter. Prentice Wealth Management LLC now owns 2,527 shares of the healthcare conglomerate’s stock valued at $1,278,000 after buying an additional 21 shares during the period. 87.86% of the stock is currently owned by institutional investors and hedge funds.
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.
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