UnitedHealth Group (NYSE:UNH) Price Target Cut to $555.00 by Analysts at Royal Bank of Canada

UnitedHealth Group (NYSE:UNH) had its price objective dropped by Royal Bank of Canada from $596.00 to $555.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the healthcare conglomerate’s stock. Royal Bank of Canada’s price target indicates a potential upside of 15.56% from the company’s previous close.

Several other analysts also recently issued reports on UNH. Morgan Stanley cut their price target on UnitedHealth Group from $618.00 to $584.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Piper Sandler cut their price target on UnitedHealth Group from $584.00 to $581.00 and set an “overweight” rating on the stock in a report on Wednesday, January 17th. Barclays initiated coverage on UnitedHealth Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $551.00 target price on the stock. Wells Fargo & Company dropped their price objective on UnitedHealth Group from $600.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 target price on shares of UnitedHealth Group in a report on Wednesday. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UnitedHealth Group presently has an average rating of “Moderate Buy” and an average price target of $571.20.

UnitedHealth Group Stock Performance

Shares of UNH traded up $11.39 during mid-day trading on Wednesday, hitting $480.28. The stock had a trading volume of 6,631,769 shares, compared to its average volume of 4,434,561. The company has a market cap of $442.78 billion, a PE ratio of 20.17, a PEG ratio of 1.22 and a beta of 0.54. The company’s fifty day simple moving average is $490.31 and its two-hundred day simple moving average is $515.63. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. UnitedHealth Group has a fifty-two week low of $436.38 and a fifty-two week high of $554.70.

UnitedHealth Group (NYSE:UNH) last issued its earnings results on Tuesday, April 16th. The healthcare conglomerate reported $6.91 EPS for the quarter, topping the consensus estimate of $6.54 by $0.37. The company had revenue of $99.80 billion during the quarter, compared to analyst estimates of $99.23 billion. UnitedHealth Group had a return on equity of 26.39% and a net margin of 6.02%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.26 EPS. On average, equities analysts expect that UnitedHealth Group will post 27.69 earnings per share for the current year.

Insider Transactions at UnitedHealth Group

In other UnitedHealth Group news, EVP Erin Mcsweeney sold 1,236 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $483.48, for a total transaction of $597,581.28. Following the transaction, the executive vice president now owns 9,364 shares in the company, valued at approximately $4,527,306.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other UnitedHealth Group news, CAO Thomas E. Roos sold 858 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $525.79, for a total value of $451,127.82. Following the sale, the chief accounting officer now owns 32,289 shares of the company’s stock, valued at approximately $16,977,233.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Erin Mcsweeney sold 1,236 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $483.48, for a total value of $597,581.28. Following the completion of the sale, the executive vice president now directly owns 9,364 shares in the company, valued at approximately $4,527,306.72. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UnitedHealth Group

Hedge funds have recently modified their holdings of the company. Richelieu Gestion SA acquired a new position in UnitedHealth Group during the 4th quarter worth about $26,000. Robbins Farley bought a new position in shares of UnitedHealth Group in the 3rd quarter worth about $25,000. CGC Financial Services LLC raised its position in shares of UnitedHealth Group by 1,000.0% in the 4th quarter. CGC Financial Services LLC now owns 55 shares of the healthcare conglomerate’s stock worth $29,000 after acquiring an additional 50 shares in the last quarter. True Wealth Design LLC bought a new position in shares of UnitedHealth Group in the 4th quarter worth about $31,000. Finally, NewSquare Capital LLC increased its position in UnitedHealth Group by 340.0% in the 3rd quarter. NewSquare Capital LLC now owns 66 shares of the healthcare conglomerate’s stock valued at $33,000 after buying an additional 51 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.