Raymond James Raises UnitedHealth Group (UNH) Price Target to $304.00
UnitedHealth Group (NYSE:UNH) had its price target boosted by Raymond James from $285.00 to $304.00 in a research note issued on Monday, Marketbeat.com reports. The firm currently has a “strong-buy” rating on the healthcare conglomerate’s stock. Raymond James’ target price would indicate a potential upside of 15.37% from the company’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Cowen assumed coverage on UnitedHealth Group in a report on Monday, September 17th. They issued an “outperform” rating and a $308.00 price objective on the stock. ValuEngine downgraded UnitedHealth Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Citigroup downgraded UnitedHealth Group from a “buy” rating to a “neutral” rating and set a $288.00 price objective on the stock. in a report on Monday, September 10th. Finally, Morgan Stanley lifted their price objective on UnitedHealth Group from $278.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, September 5th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $275.87.
NYSE UNH opened at $263.51 on Monday. UnitedHealth Group has a twelve month low of $186.00 and a twelve month high of $271.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.63. The stock has a market cap of $256.66 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.59 and a beta of 0.71.
UnitedHealth Group announced that its board has initiated a stock buyback program on Wednesday, June 6th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the healthcare conglomerate to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP D Ellen Wilson sold 15,393 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $264.29, for a total value of $4,068,215.97. Following the sale, the executive vice president now directly owns 66,402 shares of the company’s stock, valued at $17,549,384.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Nelson sold 8,142 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $265.00, for a total value of $2,157,630.00. Following the completion of the sale, the chief executive officer now directly owns 22,496 shares in the company, valued at $5,961,440. The disclosure for this sale can be found here. Insiders sold 94,745 shares of company stock worth $24,995,290 over the last three months. 0.87% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Welch Group LLC bought a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $106,000. Blue Chip Partners Inc. bought a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $107,000. Northwest Wealth Management LLC bought a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $117,000. Fort L.P. bought a new stake in UnitedHealth Group during the 2nd quarter valued at approximately $119,000. Finally, Bamco Inc. NY bought a new stake in UnitedHealth Group during the 1st quarter valued at approximately $117,000. 85.30% of the stock is currently owned by institutional investors.
UnitedHealth Group Company Profile
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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