UnitedHealth (UNH) Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on UnitedHealth (UNHResearch Report), with a price target of $310. The company’s shares opened today at $262.59.

Halper observed:

“. Group will host its annual investor event in New York City. At the event, the company typically provides investors with the underlying details to its guidance for the coming year. We expect the company to release broad guidance on Monday, November 26 AMC. UNH continues to invest in technology and innovative programs to drive consumer engagement and satisfaction. These investments, typically related to its Optum segment, are key levers which UNH uses increase performance of its health plans sold by its United Healthcare (UHC) segment and other third-party payers. These themes will likely be in focus at the company’s investor event.”

According to TipRanks.com, Halper is a top 25 analyst with an average return of 19.8% and a 68.5% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

Currently, the analyst consensus on UnitedHealth is a Strong Buy with an average price target of $304.64.

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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 $50.32 billion and had a net profit of $2.49 billion.

Based on the recent corporate insider activity of 185 insiders, corporate insider sentiment is negative on the stock. Last month, Richard Burke, a Director at UNH bought 2,320 shares for a total of $52,038.

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.