UnitedHealth Group (NYSE:UNH) Sets New 52-Week High – Here’s Why

UnitedHealth Group Incorporated (NYSE:UNH)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $615.57 and last traded at $615.28, with a volume of 408814 shares changing hands. The stock had previously closed at $605.45.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UNH. Bank of America dropped their price target on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. TD Cowen upped their price target on UnitedHealth Group from $601.00 to $609.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Argus upped their target price on UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Truist Financial reissued a “buy” rating and set a $625.00 target price (down previously from $640.00) on shares of UnitedHealth Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $615.53.

UnitedHealth Group Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market capitalization of $563.63 billion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58. The firm has a 50-day moving average of $581.13 and a 200-day moving average of $543.74.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. During the same period last year, the company earned $6.56 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that UnitedHealth Group Incorporated will post 27.61 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 1.37%. UnitedHealth Group’s payout ratio is 54.72%.

Institutional Investors Weigh In On UnitedHealth Group

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of UnitedHealth Group by 78,814.4% during the third quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after buying an additional 5,290,025 shares during the last quarter. Swedbank AB bought a new stake in shares of UnitedHealth Group in the 1st quarter worth $1,117,462,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of UnitedHealth Group by 107.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,306,729 shares of the healthcare conglomerate’s stock valued at $1,141,113,000 after buying an additional 1,196,758 shares during the last quarter. Lone Pine Capital LLC purchased a new position in UnitedHealth Group in the 2nd quarter worth about $480,903,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of UnitedHealth Group by 30.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,816,254 shares of the healthcare conglomerate’s stock worth $1,942,956,000 after acquiring an additional 880,183 shares during the period. 87.86% of the stock is owned by hedge funds and other institutional investors.

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.