UnitedHealth (UNH) Receives a Buy from Cantor Fitzgerald

By Carrie Williams

Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on UnitedHealth (UNHResearch Report) today and set a price target of $310. The company’s shares closed yesterday at $248.06.

Halper observed:

“We rate the shares of UnitedHealth Group (UNH) Overweight. Our 12-month DCF-based price target is $310. The company is nicely diversified within its UnitedHealthcare (UHC) health insurance segment. UNH is unique within our coverage universe given its Optum segment, which accounted for 44% of consolidated operating profit in 2017. We expect continued strong growth in and 2019. We continue to believe that UNH should be a core holding in all large-cap growth portfolios.”

According to TipRanks.com, Halper is a top 100 analyst with an average return of 17.0% and a 61.0% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for UnitedHealth with a $305.82 average price target, a 23.3% upside from current levels. In a report issued on January 4, Barclays also maintained a Buy rating on the stock with a $279 price target.

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Based on UnitedHealth’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $56.56 billion and net profit of $3.19 billion. In comparison, last year the company earned revenue of $52.07 billion and had a net profit of $3.62 billion.

Based on the recent corporate insider activity of 179 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Richard Burke, a Director at UNH bought 5,000 shares for a total of $137,950.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.