UnitedHealth Group (NYSE:UNH) Posts Quarterly Earnings Results

UnitedHealth Group (NYSE:UNH) posted its quarterly earnings results on Tuesday. The healthcare conglomerate reported $6.80 earnings per share for the quarter, topping the consensus estimate of $6.66 by $0.14, RTT News reports. The firm had revenue of $98.86 billion for the quarter, compared to analyst estimates of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.14 EPS. UnitedHealth Group updated its FY 2024 guidance to 27.500-28.000 EPS and its FY24 guidance to $27.50-28.00 EPS.

UnitedHealth Group Stock Performance

UNH opened at $573.19 on Thursday. The firm has a market cap of $527.56 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 1.61 and a beta of 0.60. UnitedHealth Group has a 52-week low of $436.38 and a 52-week high of $573.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.85 and a current ratio of 0.88. The business’s fifty day moving average is $502.36 and its 200-day moving average is $500.29.

UnitedHealth Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 17th were issued a dividend of $2.10 per share. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.88. This represents a $8.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, June 17th. UnitedHealth Group’s dividend payout ratio is 51.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler boosted their target price on UnitedHealth Group from $566.00 to $571.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Robert W. Baird increased their price target on UnitedHealth Group from $597.00 to $640.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial increased their price target on UnitedHealth Group from $600.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on UnitedHealth Group from $545.00 to $562.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $591.00 price target on shares of UnitedHealth Group in a research note on Wednesday. One research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $609.89.

UnitedHealth Group Company Profile

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.