Truist Financial Reiterates “Buy” Rating for UnitedHealth Group (NYSE:UNH)

UnitedHealth Group (NYSE:UNH)‘s stock had its “buy” rating reissued by Truist Financial in a report released on Monday,Benzinga reports. They currently have a $360.00 target price on the healthcare conglomerate’s stock, down from their previous target price of $580.00. Truist Financial’s price target points to a potential upside of 11.88% from the stock’s previous close.

UNH has been the subject of a number of other reports. StockNews.com upgraded UnitedHealth Group from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Argus lowered UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Barclays decreased their target price on UnitedHealth Group from $513.00 to $362.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. Raymond James lowered UnitedHealth Group from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, May 14th. Finally, Bank of America lowered UnitedHealth Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $560.00 to $350.00 in a research report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and an average price target of $451.43.

UnitedHealth Group Stock Up 1.9%

Shares of NYSE:UNH opened at $321.76 on Monday. The business’s 50 day moving average is $464.33 and its 200 day moving average is $510.17. The company has a quick ratio of 0.91, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. UnitedHealth Group has a 12-month low of $248.88 and a 12-month high of $630.73. The stock has a market cap of $291.88 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.37 and a beta of 0.56.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The firm had revenue of $109.58 billion during the quarter, compared to the consensus estimate of $111.56 billion. During the same quarter in the previous year, the firm earned $6.91 earnings per share. On average, sell-side analysts forecast that UnitedHealth Group will post 29.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy Patrick Flynn purchased 1,533 shares of UnitedHealth Group stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $320.80 per share, with a total value of $491,786.40. Following the purchase, the director now owns 6,033 shares in the company, valued at approximately $1,935,386.40. The trade was a 34.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John H. Noseworthy bought 300 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $312.16 per share, with a total value of $93,648.00. Following the completion of the purchase, the director now owns 6,063 shares of the company’s stock, valued at approximately $1,892,626.08. The trade was a 5.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 109,408 shares of company stock valued at $31,607,768 in the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On UnitedHealth Group

A number of hedge funds have recently bought and sold shares of UNH. Financial Management Professionals Inc. raised its position in UnitedHealth Group by 0.8% in the first quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after purchasing an additional 17 shares during the period. Western Pacific Wealth Management LP boosted its position in UnitedHealth Group by 2.2% during the 4th quarter. Western Pacific Wealth Management LP now owns 902 shares of the healthcare conglomerate’s stock worth $456,000 after acquiring an additional 19 shares during the period. MCF Advisors LLC boosted its position in UnitedHealth Group by 0.8% during the 4th quarter. MCF Advisors LLC now owns 2,578 shares of the healthcare conglomerate’s stock worth $1,304,000 after acquiring an additional 20 shares during the period. Axiom Financial Strategies LLC raised its stake in shares of UnitedHealth Group by 3.6% in the 4th quarter. Axiom Financial Strategies LLC now owns 575 shares of the healthcare conglomerate’s stock worth $291,000 after buying an additional 20 shares in the last quarter. Finally, Richwood Investment Advisors LLC raised its position in shares of UnitedHealth Group by 0.4% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock worth $2,654,000 after purchasing an additional 20 shares during the period. 87.86% of the stock is currently owned by 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.