UnitedHealth Analysts Boost Their Forecasts Following Upbeat Earnings

UnitedHealth Group (NYSE: UNH ) reported better-than-expected second-quarter earnings on Tuesday .

The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro . UnitedHealth’s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare.

UnitedHealth expects a 2024 net profit of $15.95-$16.40 per share to reflect the classification to held for sale of its remaining South America operations, and the estimated Change Healthcare cyberattack impacts versus the prior estimate of $17.60-$18.20.

UnitedHealth shares gained 6.5% to close at $548.87 on Tuesday.

These analysts made changes to their price targets on UnitedHealth after the company released quarterly results.

• Morgan Stanley analyst Ricky Goldwasser maintained UnitedHealth with an Overweight rating and boosted the price target from $595 to $615.
• Baird analyst Michael Ha maintained the stock with an Outperform rating, while increasing the price target from $597 to $640.
• Truist Securities analyst David Macdonald maintained UnitedHealth with a Buy rating, while boosting the price target from $600 to $640.
• Jefferies analyst David Windley upgraded UnitedHealth from Hold to Buy and increased the price target from $481 to $647.

Read Next:

• Top 3 Financials Stocks That Could Blast Off In Q3

Latest Ratings for UNH

View More Analyst Ratings for UNH

View the Latest Analyst Ratings

This article UnitedHealth Analysts Boost Their Forecasts Following Upbeat Earnings originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.