UnitedHealth Group (NYSE:UNH) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

UnitedHealth Group (NYSE:UNH) released its quarterly earnings data on Tuesday. The healthcare conglomerate reported $7.15 EPS for the quarter, topping the consensus estimate of $7.00 by $0.15, Briefing.com reports. The company had revenue of $100.82 billion for the quarter, compared to the consensus estimate of $99.14 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. UnitedHealth Group’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $6.56 EPS. UnitedHealth Group updated its FY 2024 guidance to 27.500-27.750 EPS and its FY24 guidance to $27.50-27.75 EPS.

UnitedHealth Group Stock Performance

Shares of UNH stock traded down $5.31 on Thursday, hitting $566.03. The company had a trading volume of 5,181,099 shares, compared to its average volume of 3,965,852. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. UnitedHealth Group has a twelve month low of $436.38 and a twelve month high of $608.63. The company has a 50-day moving average price of $584.21 and a 200-day moving average price of $532.84. The firm has a market cap of $522.68 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

UnitedHealth Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.48%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 55.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on UNH shares. Morgan Stanley reduced their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen raised their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Argus lifted their price target on UnitedHealth Group from $570.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $481.00 to $647.00 in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald lifted their price target on UnitedHealth Group from $591.00 to $644.00 and gave the company an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $615.16.

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.