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

UnitedHealth Group (NYSE:UNH) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 27.500-28.000 for the period, compared to the consensus estimate of 27.520. The company issued revenue guidance of -.

UnitedHealth Group Stock Up 1.5 %

Shares of UNH stock opened at $445.63 on Tuesday. UnitedHealth Group has a 12 month low of $436.38 and a 12 month high of $554.70. The firm has a market cap of $410.84 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.54. The stock has a 50 day moving average of $491.15 and a 200-day moving average of $515.88. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Friday, January 12th. The healthcare conglomerate reported $6.16 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.18. UnitedHealth Group had a return on equity of 26.39% and a net margin of 6.02%. The company had revenue of $94.43 billion during the quarter, compared to analyst estimates of $92.13 billion. During the same period in the previous year, the company earned $5.34 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that UnitedHealth Group will post 27.7 EPS for the current year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Monday, March 11th were given a dividend of $1.88 per share. This represents a $7.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, March 8th. UnitedHealth Group’s dividend payout ratio is presently 31.54%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America reiterated a buy rating and issued a $675.00 price target on shares of UnitedHealth Group in a research report on Thursday, March 7th. HSBC upgraded UnitedHealth Group from a reduce rating to a hold rating and set a $460.00 price target on the stock in a research report on Thursday, April 4th. Erste Group Bank reiterated a hold rating on shares of UnitedHealth Group in a research report on Wednesday, March 13th. Morgan Stanley reduced their price objective on UnitedHealth Group from $618.00 to $584.00 and set an overweight rating on the stock in a research note on Friday, April 5th. Finally, Barclays assumed coverage on UnitedHealth Group in a research note on Wednesday, March 6th. They issued an overweight rating and a $551.00 price objective on the stock. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $573.80.

Insider Buying and Selling

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

Institutional Trading of UnitedHealth Group

Hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in UnitedHealth Group during the 1st quarter worth approximately $35,000. Power Corp of Canada acquired a new stake in UnitedHealth Group during the 1st quarter worth approximately $48,000. O Dell Group LLC bought a new position in UnitedHealth Group during the 4th quarter worth $74,000. Pacific Center for Financial Services bought a new position in UnitedHealth Group during the 1st quarter worth $77,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in UnitedHealth Group by 84.0% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 173 shares of the healthcare conglomerate’s stock worth $91,000 after acquiring an additional 79 shares during the period. 87.86% of the stock is 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.