UnitedHealth Analysts Boost Their Forecasts Following Upbeat Earnings

Author: Avi Kapoor | July 17, 2024 09:00am

UnitedHealth Group (NYSE:UNH) reported better-than-expected second-quarter earnings on Tuesday.

The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro. UnitedHealth’s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare.

UnitedHealth expects a 2024 net profit of $15.95-$16.40 per share to reflect the classification to held for sale of its remaining South America operations, and the estimated Change Healthcare cyberattack impacts versus the prior estimate of $17.60-$18.20.

UnitedHealth shares gained 6.5% to close at $548.87 on Tuesday.

These analysts made changes to their price targets on UnitedHealth after the company released quarterly results.

• Morgan Stanley analyst Ricky Goldwasser maintained UnitedHealth with an Overweight rating and boosted the price target from $595 to $615.
• Baird analyst Michael Ha maintained the stock with an Outperform rating, while increasing the price target from $597 to $640.
• Truist Securities analyst David Macdonald maintained UnitedHealth with a Buy rating, while boosting the price target from $600 to $640.
• Jefferies analyst David Windley upgraded UnitedHealth from Hold to Buy and increased the price target from $481 to $647.

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Posted In: UNH