UnitedHealth Group (NYSE:UNH) Given New $650.00 Price Target at Bank of America

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

A number of other equities analysts have also recently weighed in on the company. Argus boosted their price target on UnitedHealth Group from $570.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. TD Cowen lifted their price objective on UnitedHealth Group from $546.00 to $601.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada lifted their price objective on UnitedHealth Group from $555.00 to $615.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley lowered their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group lifted their price objective on UnitedHealth Group from $640.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $615.16.

UnitedHealth Group Stock Performance

Shares of UNH stock opened at $571.30 on Wednesday. UnitedHealth Group has a 1 year low of $436.38 and a 1 year high of $608.63. The stock has a market cap of $527.55 billion, a PE ratio of 37.88, a P/E/G ratio of 1.69 and a beta of 0.58. The stock has a fifty day moving average price of $584.21 and a 200 day moving average price of $532.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88.

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

UnitedHealth Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, September 16th. UnitedHealth Group’s payout ratio is 55.70%.

Institutional Investors Weigh In On UnitedHealth Group

Several institutional investors and hedge funds have recently modified their holdings of UNH. Kathleen S. Wright Associates Inc. acquired a new position in shares of UnitedHealth Group in the third quarter worth about $27,000. Global Wealth Strategies & Associates lifted its stake in shares of UnitedHealth Group by 152.4% in the third quarter. Global Wealth Strategies & Associates now owns 53 shares of the healthcare conglomerate’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Macroview Investment Management LLC lifted its stake in shares of UnitedHealth Group by 671.4% in the second quarter. Macroview Investment Management LLC now owns 54 shares of the healthcare conglomerate’s stock worth $28,000 after acquiring an additional 47 shares in the last quarter. West Financial Advisors LLC acquired a new position in shares of UnitedHealth Group in the third quarter worth about $32,000. Finally, Delos Wealth Advisors LLC lifted its stake in shares of UnitedHealth Group by 757.1% in the first quarter. Delos Wealth Advisors LLC now owns 60 shares of the healthcare conglomerate’s stock worth $30,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors 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.