KeyCorp Reiterates Overweight Rating for UnitedHealth Group (NYSE:UNH)

UnitedHealth Group (NYSE:UNH)‘s stock had its “overweight” rating reissued by KeyCorp in a report released on Friday,Benzinga reports. They currently have a $650.00 price objective on the healthcare conglomerate’s stock. KeyCorp’s target price points to a potential upside of 27.44% from the stock’s current price.

Several other brokerages also recently issued reports on UNH. StockNews.com downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of UnitedHealth Group from $595.00 to $625.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer raised their target price on shares of UnitedHealth Group from $610.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Barclays raised their price objective on UnitedHealth Group from $603.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Piper Sandler reduced their target price on UnitedHealth Group from $605.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, UnitedHealth Group presently has a consensus rating of “Buy” and a consensus target price of $627.74.

UnitedHealth Group Stock Performance

Shares of UNH opened at $510.03 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $549.37 and a 200-day simple moving average of $562.73. UnitedHealth Group has a 52-week low of $436.38 and a 52-week high of $630.73. The company has a market capitalization of $469.37 billion, a PE ratio of 33.23, a P/E/G ratio of 1.42 and a beta of 0.62.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Thursday, January 16th. The healthcare conglomerate reported $6.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.07. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The firm had revenue of $100.81 billion during the quarter, compared to analysts’ expectations of $101.60 billion. During the same period in the previous year, the firm posted $5.83 earnings per share. UnitedHealth Group’s revenue was up 6.8% on a year-over-year basis. Equities research analysts predict that UnitedHealth Group will post 27.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of UnitedHealth Group by 78,814.4% in the 3rd quarter. International Assets Investment Management LLC now owns 5,296,737 shares of the healthcare conglomerate’s stock valued at $3,096,896,000 after purchasing an additional 5,290,025 shares during the period. Lone Pine Capital LLC acquired a new stake in UnitedHealth Group in the 2nd quarter valued at $480,903,000. Accredited Investors Inc. boosted its stake in shares of UnitedHealth Group by 9,235.4% during the 3rd quarter. Accredited Investors Inc. now owns 784,924 shares of the healthcare conglomerate’s stock worth $458,929,000 after buying an additional 776,516 shares during the last quarter. Raymond James & Associates raised its holdings in UnitedHealth Group by 33.1% during the third quarter. Raymond James & Associates now owns 2,361,396 shares of the healthcare conglomerate’s stock worth $1,380,661,000 after acquiring an additional 587,088 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in UnitedHealth Group by 129.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,029,540 shares of the healthcare conglomerate’s stock valued at $601,951,000 after purchasing an additional 581,324 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.