UnitedHealth Group (NYSE:UNH) Price Target Cut to $650.00

UnitedHealth Group (NYSE:UNH) had its price target decreased by Bank of America from $675.00 to $650.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the healthcare conglomerate’s stock.

Other analysts have also issued reports about the stock. Truist Financial increased their price target on shares of UnitedHealth Group from $600.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. KeyCorp initiated coverage on shares of UnitedHealth Group in a research report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price target for the company. Morgan Stanley reduced their price target on shares of UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of UnitedHealth Group from $525.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada increased their price target on shares of UnitedHealth Group from $555.00 to $615.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Three equities research 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, UnitedHealth Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $615.58.

UnitedHealth Group Price Performance

UNH stock opened at $569.61 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67. 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 $524.26 billion, a PE ratio of 34.82, a P/E/G ratio of 1.69 and a beta of 0.58. The firm has a 50-day moving average of $584.42 and a two-hundred day moving average of $534.15.

UnitedHealth Group (NYSE:UNH) last posted its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. The company had revenue of $100.82 billion during the quarter, compared to analyst estimates of $99.14 billion. During the same period in the prior year, the firm earned $6.56 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts forecast that UnitedHealth Group will post 27.68 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were issued a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.40 annualized dividend and a yield of 1.47%. UnitedHealth Group’s dividend payout ratio (DPR) is presently 51.34%.

Institutional Investors Weigh In On UnitedHealth Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. boosted its stake in UnitedHealth Group by 1,262.2% during the first quarter. Beese Fulmer Investment Management Inc. now owns 20,623 shares of the healthcare conglomerate’s stock worth $10,202,000 after buying an additional 19,109 shares in the last quarter. Marion Wealth Management lifted its holdings in shares of UnitedHealth Group by 1.8% during the first quarter. Marion Wealth Management now owns 4,733 shares of the healthcare conglomerate’s stock valued at $2,341,000 after acquiring an additional 82 shares during the period. Atlas Brown Inc. lifted its holdings in shares of UnitedHealth Group by 1.4% during the first quarter. Atlas Brown Inc. now owns 1,682 shares of the healthcare conglomerate’s stock valued at $832,000 after acquiring an additional 24 shares during the period. Emprise Bank bought a new position in shares of UnitedHealth Group during the first quarter valued at $1,908,000. Finally, Rise Advisors LLC lifted its holdings in shares of UnitedHealth Group by 225.8% during the first quarter. Rise Advisors LLC now owns 694 shares of the healthcare conglomerate’s stock valued at $344,000 after acquiring an additional 481 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Company Profile

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.