JPMorgan Chase & Co. Forecasts Strong Price Appreciation for UnitedHealth Group (NYSE:UNH) Stock

UnitedHealth Group (NYSE:UNH) had its target price lifted by JPMorgan Chase & Co. from $405.00 to $418.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the healthcare conglomerate’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 36.20% from the company’s previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of UnitedHealth Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Robert W. Baird cut shares of UnitedHealth Group from an “outperform” rating to a “neutral” rating and set a $312.00 target price on the stock. in a research report on Wednesday, June 11th. Wells Fargo & Company restated an “overweight” rating on shares of UnitedHealth Group in a report on Friday, June 6th. KeyCorp decreased their price target on UnitedHealth Group from $450.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Finally, Piper Sandler decreased their target price on UnitedHealth Group from $552.00 to $353.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $427.09.

UnitedHealth Group Stock Down 0.6%

UNH stock opened at $306.90 on Friday. The company has a market cap of $278.40 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.44 and a beta of 0.44. The firm has a 50-day moving average of $365.09 and a two-hundred day moving average of $465.88. UnitedHealth Group has a 12 month low of $248.88 and a 12 month high of $630.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.71.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 earnings per share for the quarter, missing analysts’ consensus estimates of $7.29 by ($0.09). UnitedHealth Group had a return on equity of 26.29% and a net margin of 5.39%. The company had revenue of $109.58 billion for the quarter, compared to analyst estimates of $111.56 billion. During the same period last year, the firm posted $6.91 EPS. As a group, analysts forecast that UnitedHealth Group will post 29.54 earnings per share for the current fiscal year.

Insider Transactions at UnitedHealth Group

In related news, CEO Patrick Hugh Conway sold 589 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $305.00, for a total transaction of $179,645.00. Following the completion of the sale, the chief executive officer now owns 10,398 shares in the company, valued at $3,171,390. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Noseworthy purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $312.16 per share, for a total transaction of $93,648.00. Following the transaction, the director now directly owns 6,063 shares in the company, valued at $1,892,626.08. This trade represents a 5.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 109,408 shares of company stock worth $31,607,768. 0.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UnitedHealth Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. boosted its holdings in shares of UnitedHealth Group by 0.8% in the first quarter. Financial Management Professionals Inc. now owns 2,224 shares of the healthcare conglomerate’s stock valued at $1,165,000 after acquiring an additional 17 shares in the last quarter. Richwood Investment Advisors LLC increased its position in UnitedHealth Group by 0.4% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,247 shares of the healthcare conglomerate’s stock worth $2,654,000 after purchasing an additional 20 shares during the period. Global Wealth Strategies & Associates lifted its holdings in shares of UnitedHealth Group by 28.6% in the 1st quarter. Global Wealth Strategies & Associates now owns 90 shares of the healthcare conglomerate’s stock valued at $47,000 after buying an additional 20 shares during the period. 44 Wealth Management LLC lifted its holdings in UnitedHealth Group by 1.6% in the fourth quarter. 44 Wealth Management LLC now owns 1,309 shares of the healthcare conglomerate’s stock valued at $662,000 after acquiring an additional 21 shares during the period. Finally, Prentice Wealth Management LLC increased its holdings in shares of UnitedHealth Group by 0.8% in the 4th quarter. Prentice Wealth Management LLC now owns 2,527 shares of the healthcare conglomerate’s stock valued at $1,278,000 after purchasing an additional 21 shares in the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

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.