UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, July 19th.
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The Minnetonka, Minn., company now expects adjusted earnings for the year of about $7.80 to $7.95 a share, compared with its previous forecast – raised in April – for $7.75 to $7.95 a share.
Revenue surged 28% to $46.5 billion, trouncing the $45 billion consensus estimate, according to Thomson Reuters.
Growth was broad-based, the report said. Year-over-year, UnitedHealthcare revenues grew 14 percent and Optum revenues grew 52 percent, with revenue growth by business ranging from 18 percent to 69 percent at Optum. The unit’s revenue rose 13.6 percent to US$37.6 billion for the second quarter.
On the exchange business, UnitedHealth Group said it again saw higher medical costs among subscribers during the quarter, prompting the insurer to increase projected losses by $200 million.
In the quarter, UnitedHealthcare grew over the past year to serve over 2.1 million more people in domestic medical benefits markets, including 320,000 more people in the second quarter. Effective operating cost administration and long-standing seasonal spending patterns combined to improve the operating cost ratio 60 basis points on a sequential quarter basis. Even though expectations were fairly high, UnitedHealth was able to exceed them, and it also gave more favorable guidance about its results for the rest of the year. Second quarter 2016 annualized return on equity of 19.60% was consistent with second quarter 2015 performance.
Health insurance has become a vital product that hundreds of millions of Americans need, and insurance giant UnitedHealth Group (NYSE: UNH) has done everything it can to claim its share of those needing healthcare coverage. The shares closed down -0.010 points or -2.19% at $0.433 with 2.09 million shares getting traded.
ABEV stock’s price is now -7.46% down from its 52-week high and 51.04% up from its 52-week low. The stock was sold at an average price of $139.80, for a total transaction of $768,900.00. In essence, the P/E ratio of UnitedHealth Group Incorporated specifies the dollar amount an investor can anticipate to invest in the company to receive one dollar of the company’s earnings.
Mizuho Securities noted a target price of 160 on Unitedhealth Group Inc.’s shares.
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The companies 50 day moving average is 139.11 and its 200 day moving average is 127.32. Its weekly and monthly volatility is 1.62%, 1.38% respectively. The institutional ownership stake in the corporation is 89.90% while the Beta value stands at 0.58. News & Ratings Via Email – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Unitedhealth Group Inc. with MarketBeat.com’s FREE daily email newsletter. The company has PEG ratio of 1.55 and price to cash ratio of 12.75.
