UnitedHealth Group (NYSE:UNH) Releases FY24 Earnings Guidance

by · The Markets Daily

UnitedHealth Group (NYSE:UNH – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $27.50-27.75 for the period, compared to the consensus estimate of $27.69. UnitedHealth Group also updated its FY 2024 guidance to 27.500-27.750 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of UnitedHealth Group from $555.00 to $615.00 and gave the stock an outperform rating in a report on Wednesday, July 17th. Jefferies Financial Group raised UnitedHealth Group from a hold rating to a buy rating and raised their price objective for the company from $481.00 to $647.00 in a research note on Wednesday, July 17th. TD Cowen increased their target price on UnitedHealth Group from $546.00 to $601.00 and gave the company a buy rating in a report on Wednesday, July 17th. KeyCorp began coverage on UnitedHealth Group in a research report on Friday. They issued an overweight rating and a $675.00 price objective for the company. Finally, Robert W. Baird upped their price target on shares of UnitedHealth Group from $597.00 to $640.00 and gave the company an outperform rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $617.37.

Get Our Latest Analysis on UnitedHealth Group

UnitedHealth Group Trading Up 1.6 %

NYSE:UNH opened at $607.55 on Tuesday. The company’s 50-day simple moving average is $584.39 and its 200 day simple moving average is $532.15. UnitedHealth Group has a one year low of $436.38 and a one year high of $608.63. The firm has a market capitalization of $561.02 billion, a P/E ratio of 40.29, a PEG ratio of 1.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88.

UnitedHealth Group (NYSE:UNH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 16th. The healthcare conglomerate reported $6.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.66 by $0.14. The business had revenue of $98.86 billion during the quarter, compared to analysts’ expectations of $98.73 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 earnings per share. As a group, analysts forecast that UnitedHealth Group will post 27.69 EPS for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a yield of 1.38%. UnitedHealth Group’s dividend payout ratio is currently 55.70%.

Insider Activity

In related news, CAO Thomas E. Roos sold 2,851 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $569.88, for a total value of $1,624,727.88. Following the transaction, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at approximately $16,812,029.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Thomas E. Roos sold 2,851 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $569.88, for a total transaction of $1,624,727.88. Following the sale, the chief accounting officer now owns 29,501 shares of the company’s stock, valued at $16,812,029.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Erin Mcsweeney sold 1,500 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $579.03, for a total transaction of $868,545.00. Following the completion of the sale, the executive vice president now directly owns 7,785 shares of the company’s stock, valued at approximately $4,507,748.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

UnitedHealth Group Company Profile

(Get Free Report)

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.

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