UnitedHealth Group (NYSE:UNH) Announces Quarterly Earnings Results

Posted by Defense World Staff on Jul 17th, 2023

UnitedHealth Group (NYSE:UNH – Get Free Report) released its quarterly earnings data on Friday. The healthcare conglomerate reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.92 by $0.22, MarketWatch Earnings reports. UnitedHealth Group had a return on equity of 26.72% and a net margin of 6.06%. The company had revenue of $92.90 billion during the quarter, compared to the consensus estimate of $90.97 billion. During the same quarter in the prior year, the firm posted $5.57 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. UnitedHealth Group updated its FY 2023 guidance to $24.70-$25.00 EPS and its FY23 guidance to $24.70-25.00 EPS.

UnitedHealth Group Price Performance

UNH opened at $480.17 on Monday. The stock has a fifty day simple moving average of $478.86 and a two-hundred day simple moving average of $485.44. The company has a market cap of $447.05 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. UnitedHealth Group has a 12-month low of $445.68 and a 12-month high of $558.10.

UnitedHealth Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Monday, June 19th were paid a $1.88 dividend. This is an increase from UnitedHealth Group’s previous quarterly dividend of $1.65. This represents a $7.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, June 15th. UnitedHealth Group’s dividend payout ratio is presently 33.65%.

Insider Activity at UnitedHealth Group

In related news, EVP Erin Mcsweeney sold 1,008 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $484.58, for a total value of $488,456.64. Following the sale, the executive vice president now owns 10,359 shares in the company, valued at approximately $5,019,764.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Andrew Witty sold 6,160 shares of UnitedHealth Group stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $487.49, for a total value of $3,002,938.40. Following the completion of the sale, the chief executive officer now directly owns 86,564 shares in the company, valued at approximately $42,199,084.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Erin Mcsweeney sold 1,008 shares of UnitedHealth Group stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $484.58, for a total transaction of $488,456.64. Following the completion of the sale, the executive vice president now owns 10,359 shares of the company’s stock, valued at $5,019,764.22. The disclosure for this sale can be found here. Insiders sold a total of 8,852 shares of company stock valued at $4,313,962 in the last three months. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On UnitedHealth Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Axiom Financial Strategies LLC bought a new stake in shares of UnitedHealth Group during the 1st quarter valued at $210,000. McGowan Group Asset Management Inc. grew its stake in shares of UnitedHealth Group by 8.9% during the 1st quarter. McGowan Group Asset Management Inc. now owns 744 shares of the healthcare conglomerate’s stock valued at $379,000 after acquiring an additional 61 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of UnitedHealth Group by 31.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 250,196 shares of the healthcare conglomerate’s stock worth $127,592,000 after purchasing an additional 60,300 shares during the period. MAS Advisors LLC lifted its stake in shares of UnitedHealth Group by 10.8% during the 1st quarter. MAS Advisors LLC now owns 463 shares of the healthcare conglomerate’s stock valued at $241,000 after buying an additional 45 shares in the last quarter. Finally, First Western Trust Bank bought a new stake in UnitedHealth Group in the 1st quarter valued at $875,000. 92.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UNH shares. StockNews.com downgraded shares of UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Loop Capital upped their price target on UnitedHealth Group from $590.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Cantor Fitzgerald started coverage on shares of UnitedHealth Group in a report on Thursday, April 20th. They set an “overweight” rating and a $591.00 target price on the stock. Truist Financial lowered their price objective on UnitedHealth Group from $610.00 to $580.00 in a research report on Wednesday, June 14th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $630.00 price objective on shares of UnitedHealth Group in a report on Friday, April 14th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $586.80.

UnitedHealth Group Company Profile

(Get Free Report)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It 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.