Why UnitedHealth Stock Flopped on Friday
While investors love when one of their companies beats analyst estimates, it's not always the case that its stock rises in reaction. That was the case Friday with big health insurance company (NYSE: UNH), whose share price closed more than 3% lower following the release of its latest quarterly results. That contrasted poorly with the S 500 index, which rose marginally on the day.
For its final quarter of 2023, UnitedHealth booked revenue of $94.4 billion, 14% higher than in the same period of 2022. Non-GAAP (adjusted) net income also rose at nearly the same rate to land at just under $5.8 billion. On a per-share basis, the latter line item shook out to $6.16 per share.
Both results topped analyst expectations. On average, prognosticators tracking the stock were modeling slightly over $91.9 billion on the top line, and $5.99 per share for adjusted earnings.
Source Fool.com
UnitedHealth Group Inc. Stock
The stock is one of the favorites of our community with 42 Buy predictions and 1 Sell predictions.
As a result the target price of 547 € shows a slightly positive potential of 4.47% compared to the current price of 523.6 € for UnitedHealth Group Inc..
