Why UnitedHealth Group Stock Jumped Today
Shares of UnitedHealth Group (NYSE: UNH) climbed as much as 3.6% early Friday, then settled to trade up around 2.3% as of 2:30 p.m. ET after the the healthcare benefits company announced strong quarterly results.
UnitedHealth's third-quarter revenue climbed 14.2% year over year to $92.36 billion -- including double-digit percent growth from both its Optum and UnitedHealthcare segments -- translating to a 13.3% increase in adjusted (non-GAAP) earnings to $6.56 per share. Analysts, on average, were modeling lower adjusted earnings of $6.33 per share on revenue closer to $91.4 billion.
UnitedHealth also drove healthy cash flows from operations of $6.9 billion during the quarter, and has returned over $11.5 billion to shareholders through the first three quarters of 2023 through dividends and share repurchases.
Source Fool.com
UnitedHealth Group Inc. Stock
The stock is one of the favorites of our community with 42 Buy predictions and 2 Sell predictions.
As a result the target price of 547 € shows a slightly positive potential of 4.23% compared to the current price of 524.8 € for UnitedHealth Group Inc..
