Eagle Ridge Investment Management lessened its position in shares of UnitedHealth Group Inc (NYSE:UNH) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,633 shares of the healthcare conglomerate’s stock after selling 493 shares during the period. UnitedHealth Group makes up approximately 2.5% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 6th largest position. Eagle Ridge Investment Management’s holdings in UnitedHealth Group were worth $17,479,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. FMR LLC raised its position in shares of UnitedHealth Group by 1.9% in the fourth quarter. FMR LLC now owns 64,480,003 shares of the healthcare conglomerate’s stock valued at $16,063,258,000 after buying an additional 1,232,189 shares in the last quarter. Geode Capital Management LLC raised its position in shares of UnitedHealth Group by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 11,593,401 shares of the healthcare conglomerate’s stock valued at $2,882,988,000 after buying an additional 965,763 shares in the last quarter. Norges Bank acquired a new stake in shares of UnitedHealth Group in the fourth quarter valued at approximately $2,343,175,000. Janus Henderson Group PLC raised its position in shares of UnitedHealth Group by 16.7% in the second quarter. Janus Henderson Group PLC now owns 6,448,289 shares of the healthcare conglomerate’s stock valued at $1,573,438,000 after buying an additional 922,290 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of UnitedHealth Group by 12.8% in the fourth quarter. American Century Companies Inc. now owns 5,678,706 shares of the healthcare conglomerate’s stock valued at $1,414,679,000 after buying an additional 644,872 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.
Shares of NYSE UNH traded up $1.10 during midday trading on Thursday, reaching $244.30. 1,280,785 shares of the company were exchanged, compared to its average volume of 3,513,135. The company’s 50-day moving average price is $251.31. The stock has a market capitalization of $230.48 billion, a PE ratio of 18.97, a P/E/G ratio of 1.30 and a beta of 0.61. UnitedHealth Group Inc has a one year low of $208.07 and a one year high of $287.94. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.62.
UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings data on Thursday, July 18th. The healthcare conglomerate reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.14. UnitedHealth Group had a net margin of 5.51% and a return on equity of 25.20%. The company had revenue of $60.60 billion for the quarter, compared to analysts’ expectations of $60.59 billion. During the same quarter in the previous year, the firm posted $3.14 earnings per share. UnitedHealth Group’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that UnitedHealth Group Inc will post 14.82 EPS for the current fiscal year.
In related news, Director Richard T. Burke sold 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $246.40, for a total value of $1,232,000.00. Following the sale, the director now owns 187,979 shares of the company’s stock, valued at $46,318,025.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard T. Burke sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $248.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the director now directly owns 187,663 shares in the company, valued at approximately $46,540,424. The disclosure for this sale can be found here. In the last three months, insiders sold 37,000 shares of company stock worth $9,195,620. 0.87% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of UnitedHealth Group from a “sell” rating to a “buy” rating and set a $269.00 price target for the company in a research report on Monday, July 22nd. Morgan Stanley lifted their price target on shares of UnitedHealth Group from $285.00 to $298.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Citigroup upgraded shares of UnitedHealth Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $247.00 to $280.00 in a research report on Friday, May 10th. Raymond James lifted their price target on shares of UnitedHealth Group from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, SunTrust Banks dropped their price target on shares of UnitedHealth Group to $300.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have assigned a buy rating to the stock. UnitedHealth Group has a consensus rating of “Buy” and an average price target of $295.06.
About UnitedHealth Group
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. 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 and well-being services to individuals age 50 and older, addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; and Medicaid plans, Children's Health Insurance Program, and health care programs; and health and dental benefits.
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