Cantor Fitzgerald Raises UnitedHealth Group (NYSE:UNH) Price Target to $644.00

UnitedHealth Group (NYSE:UNH) had its price objective increased by Cantor Fitzgerald from $591.00 to $644.00 in a research report sent to investors on Wednesday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the healthcare conglomerate’s stock. Cantor Fitzgerald also issued estimates for UnitedHealth Group’s FY2024 earnings at $27.56 EPS.

Several other analysts also recently weighed in on the company. Wells Fargo & Company upped their price objective on UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Bank of America decreased their price target on shares of UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial boosted their price objective on UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. TD Cowen boosted their price target on UnitedHealth Group from $546.00 to $601.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group upgraded shares of 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 report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $615.58.

UnitedHealth Group Stock Performance

UNH opened at $569.61 on Wednesday. The business has a 50 day moving average of $584.42 and a 200-day moving average of $534.15. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The stock has a market cap of $524.26 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.69 and a beta of 0.58. UnitedHealth Group has a 12-month low of $436.38 and a 12-month high of $608.63.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share for the quarter, topping the consensus estimate of $7.00 by $0.15. The business had revenue of $100.82 billion during the quarter, compared to analysts’ expectations of $99.14 billion. UnitedHealth Group had a return on equity of 26.55% and a net margin of 3.66%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $6.56 EPS. On average, equities research analysts expect that UnitedHealth Group will post 27.68 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Monday, September 16th were given a dividend of $2.10 per share. The ex-dividend date was Monday, September 16th. This represents a $8.40 annualized dividend and a dividend yield of 1.47%. UnitedHealth Group’s payout ratio is 51.34%.

Hedge Funds Weigh In On UnitedHealth Group

Several institutional investors have recently added to or reduced their stakes in the business. Violich Capital Management Inc. increased its stake in UnitedHealth Group by 0.8% in the third quarter. Violich Capital Management Inc. now owns 37,425 shares of the healthcare conglomerate’s stock valued at $21,882,000 after purchasing an additional 310 shares in the last quarter. Calton & Associates Inc. acquired a new position in UnitedHealth Group during the 3rd quarter worth approximately $104,174,000. Allspring Global Investments Holdings LLC grew its stake in UnitedHealth Group by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 390,147 shares of the healthcare conglomerate’s stock valued at $228,111,000 after acquiring an additional 2,959 shares during the period. Compass Ion Advisors LLC raised its position in shares of UnitedHealth Group by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 601 shares of the healthcare conglomerate’s stock worth $351,000 after purchasing an additional 32 shares during the period. Finally, Vest Financial LLC grew its position in UnitedHealth Group by 168.8% in the 3rd quarter. Vest Financial LLC now owns 5,839 shares of the healthcare conglomerate’s stock valued at $3,414,000 after purchasing an additional 3,667 shares during the period. 87.86% of the stock is owned by institutional investors and hedge funds.

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.