Bank of America Issues Pessimistic Forecast for UnitedHealth Group (NYSE:UNH) Stock Price

UnitedHealth Group (NYSE:UNH) had its target price cut by stock analysts at Bank of America from $350.00 to $300.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the healthcare conglomerate’s stock. Bank of America‘s target price would suggest a potential upside of 12.60% from the stock’s previous close.

Several other brokerages have also issued reports on UNH. Wells Fargo & Company decreased their price objective on UnitedHealth Group from $351.00 to $306.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Oppenheimer decreased their price objective on UnitedHealth Group from $600.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, May 14th. Morgan Stanley reduced their price target on UnitedHealth Group from $563.00 to $374.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Wall Street Zen downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, JPMorgan Chase & Co. upped their price target on UnitedHealth Group from $405.00 to $418.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group has an average rating of “Moderate Buy” and a consensus target price of $378.95.

UnitedHealth Group Price Performance

UnitedHealth Group stock opened at $266.43 on Tuesday. The firm has a market capitalization of $241.69 billion, a P/E ratio of 11.54, a PEG ratio of 1.37 and a beta of 0.45. UnitedHealth Group has a 1 year low of $248.88 and a 1 year high of $630.73. The business has a 50-day moving average of $298.96 and a 200-day moving average of $420.36. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.73.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Tuesday, July 29th. The healthcare conglomerate reported $4.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.45 by ($0.37). UnitedHealth Group had a net margin of 5.04% and a return on equity of 23.32%. The business had revenue of $111.62 billion during the quarter, compared to analyst estimates of $111.75 billion. During the same quarter in the prior year, the firm posted $6.80 earnings per share. UnitedHealth Group’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that UnitedHealth Group will post 29.54 EPS for the current year.

Insider Buying and Selling at UnitedHealth Group

In other UnitedHealth Group news, Director Kristen Gil purchased 3,700 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $271.17 per share, with a total value of $1,003,329.00. Following the acquisition, the director directly owned 3,818 shares of the company’s stock, valued at $1,035,327.06. This trade represents a 3,135.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy Patrick Flynn purchased 1,533 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were acquired at an average cost of $320.80 per share, with a total value of $491,786.40. Following the acquisition, the director directly owned 6,033 shares in the company, valued at approximately $1,935,386.40. The trade was a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UnitedHealth Group

A number of hedge funds and other institutional investors have recently modified their holdings of UNH. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth $26,000. Hurley Capital LLC acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth $28,000. Bayforest Capital Ltd lifted its holdings in shares of UnitedHealth Group by 685.7% during the first quarter. Bayforest Capital Ltd now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after buying an additional 48 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of UnitedHealth Group during the fourth quarter worth $30,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in UnitedHealth Group by 416.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 62 shares of the healthcare conglomerate’s stock valued at $32,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

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.