Royal Bank of Canada Issues Pessimistic Forecast for UnitedHealth Group (NYSE:UNH) Stock Price

UnitedHealth Group (NYSE:UNH - Get Free Report) had its target price lowered by equities researchers at Royal Bank of Canada from $655.00 to $525.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the healthcare conglomerate's stock. Royal Bank of Canada's price target would indicate a potential upside of 21.07% from the stock's previous close.

Several other research analysts have also commented on UNH. Mizuho raised their price target on UnitedHealth Group from $600.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Piper Sandler reduced their price target on shares of UnitedHealth Group from $605.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, January 2nd. Erste Group Bank upgraded shares of UnitedHealth Group to a "strong-buy" rating in a report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on UnitedHealth Group from $694.00 to $660.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Hsbc Global Res cut shares of UnitedHealth Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, UnitedHealth Group presently has a consensus rating of "Buy" and an average price target of $604.67.

UnitedHealth Group Stock Performance

NYSE UNH traded up $6.44 during trading hours on Wednesday, reaching $433.62. The stock had a trading volume of 4,320,104 shares, compared to its average volume of 4,421,573. The stock has a market cap of $396.64 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61. UnitedHealth Group has a 52-week low of $417.12 and a 52-week high of $630.73. The stock has a fifty day moving average of $508.83 and a 200 day moving average of $537.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.83.

UnitedHealth Group (NYSE:UNH - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The healthcare conglomerate reported $7.20 EPS for the quarter, missing the consensus estimate of $7.29 by ($0.09). UnitedHealth Group had a net margin of 3.60% and a return on equity of 26.69%. The business had revenue of $109.58 billion during the quarter, compared to analyst estimates of $111.56 billion. During the same period in the previous year, the business posted $6.91 earnings per share. Sell-side analysts predict that UnitedHealth Group will post 29.54 earnings per share for the current year.

Hedge Funds Weigh In On UnitedHealth Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Adams Diversified Equity Fund Inc. grew its holdings in shares of UnitedHealth Group by 56.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 50,800 shares of the healthcare conglomerate's stock worth $26,606,000 after purchasing an additional 18,400 shares during the period. Mattern Capital Management LLC increased its holdings in UnitedHealth Group by 2.5% in the 1st quarter. Mattern Capital Management LLC now owns 19,184 shares of the healthcare conglomerate's stock valued at $10,048,000 after purchasing an additional 471 shares in the last quarter. Riverbend Wealth Management LLC grew its stake in shares of UnitedHealth Group by 9.5% in the first quarter. Riverbend Wealth Management LLC now owns 2,573 shares of the healthcare conglomerate's stock valued at $1,347,000 after buying an additional 224 shares in the last quarter. Balance Wealth LLC acquired a new stake in UnitedHealth Group in the first quarter valued at approximately $428,000. Finally, RAM Investment Partners LLC acquired a new stake in shares of UnitedHealth Group during the first quarter valued at about $1,639,000. Institutional investors and hedge funds 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.

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