UnitedHealth Group Incorporated (UNH), a healthcare giant with a market cap of $557 billion, has seen its shares rise despite facing challenges in the industry. The company provides various health care options to customers worldwide and has consistently traded above its 50-day moving average since early November.
Despite underperforming some of its peers, such as Elevance Health, Inc. (ELV), UNH’s shares have shown a bullish trend. Wall Street analysts are optimistic about the company’s prospects, with a consensus “Strong Buy” rating from 24 analysts covering it. The mean price target of $632.42 suggests a potential upside of 3.5% from current price levels.
In its recent Q3 results, UNH reported an adjusted EPS of $7.15, beating Wall Street expectations of $7.02. The company’s revenue was $100.8 billion, exceeding forecasts of $99.5 billion. However, the company has faced pressure due to rising medical costs and reduced Medicaid coverage.
UNH’s rival, Elevance Health, Inc., saw its shares plummet 15.2% on a YTD basis. Despite this, UNH remains a top performer in the healthcare industry, with shares rising 16% on a YTD basis and 11.4% over the past 52 weeks.
Source: https://www.nasdaq.com/articles/unitedhealth-stock-underperforming-dow