UnitedHealth Group (UNH) PT Raised to $304.00 at Raymond James

UnitedHealth Group (NYSE:UNH) had its price target increased by equities research analysts at Raymond James from $285.00 to $304.00 in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a “strong-buy” rating on the healthcare conglomerate’s stock. Raymond James’ target price would indicate a potential upside of 13.70% from the stock’s current price.

A number of other research firms also recently commented on UNH. Morgan Stanley boosted their price target on UnitedHealth Group from $278.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, September 5th. Zacks Investment Research downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $300.00 price target on shares of UnitedHealth Group in a research note on Thursday, July 5th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $277.00 price target on shares of UnitedHealth Group in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada boosted their price target on UnitedHealth Group from $282.00 to $284.00 and gave the company a “$255.42” rating in a research note on Wednesday, July 18th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. UnitedHealth Group currently has a consensus rating of “Buy” and an average price target of $275.35.

UNH opened at $267.36 on Monday. UnitedHealth Group has a fifty-two week low of $186.00 and a fifty-two week high of $271.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $256.66 billion, a PE ratio of 23.33, a PEG ratio of 1.59 and a beta of 0.71.

UnitedHealth Group (NYSE:UNH) last posted its earnings results on Tuesday, July 17th. The healthcare conglomerate reported $3.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.10. UnitedHealth Group had a return on equity of 22.79% and a net margin of 5.55%. The company had revenue of $56.09 billion during the quarter, compared to the consensus estimate of $56.10 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. sell-side analysts predict that UnitedHealth Group will post 12.72 EPS for the current year.

UnitedHealth Group declared that its board has initiated a share buyback plan on Wednesday, June 6th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the healthcare conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other UnitedHealth Group news, CEO Steven H. Nelson sold 8,142 shares of UnitedHealth Group stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $265.00, for a total value of $2,157,630.00. Following the transaction, the chief executive officer now owns 22,496 shares in the company, valued at $5,961,440. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Nelson sold 26,033 shares of UnitedHealth Group stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $270.65, for a total value of $7,045,831.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,745 shares of company stock worth $24,995,290. Company insiders own 0.87% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. White Lighthouse Investment Management Inc. bought a new position in UnitedHealth Group in the second quarter valued at about $324,000. Wells Fargo & Company MN grew its holdings in shares of UnitedHealth Group by 0.5% during the second quarter. Wells Fargo & Company MN now owns 7,692,899 shares of the healthcare conglomerate’s stock worth $1,887,377,000 after purchasing an additional 39,480 shares during the last quarter. Wesbanco Bank Inc. grew its holdings in shares of UnitedHealth Group by 195.2% during the first quarter. Wesbanco Bank Inc. now owns 76,341 shares of the healthcare conglomerate’s stock worth $16,337,000 after purchasing an additional 50,480 shares during the last quarter. Granite Investment Advisors LLC grew its holdings in shares of UnitedHealth Group by 1.4% during the second quarter. Granite Investment Advisors LLC now owns 34,225 shares of the healthcare conglomerate’s stock worth $8,397,000 after purchasing an additional 476 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of UnitedHealth Group by 3.8% during the second quarter. Synovus Financial Corp now owns 53,952 shares of the healthcare conglomerate’s stock worth $13,238,000 after purchasing an additional 1,985 shares during the last quarter. Hedge funds and other institutional investors own 85.30% of the company’s stock.

About UnitedHealth Group

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.

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