Oak Ridge Investments LLC Buys 2,669 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

Oak Ridge Investments LLC increased its stake in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 7.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,719 shares of the healthcare conglomerate’s stock after acquiring an additional 2,669 shares during the period. UnitedHealth Group accounts for about 2.0% of Oak Ridge Investments LLC’s holdings, making the stock its 10th largest position. Oak Ridge Investments LLC’s holdings in UnitedHealth Group were worth $23,223,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Reston Wealth Management LLC acquired a new position in shares of UnitedHealth Group during the 3rd quarter valued at about $119,000. Baron Silver Stevens Financial Advisors LLC grew its holdings in UnitedHealth Group by 7.3% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 735 shares of the healthcare conglomerate’s stock valued at $430,000 after buying an additional 50 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in shares of UnitedHealth Group by 0.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 10,031 shares of the healthcare conglomerate’s stock worth $5,865,000 after purchasing an additional 46 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of UnitedHealth Group by 28.7% during the 3rd quarter. AustralianSuper Pty Ltd now owns 556,896 shares of the healthcare conglomerate’s stock worth $325,606,000 after purchasing an additional 124,068 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of UnitedHealth Group by 3.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 878 shares of the healthcare conglomerate’s stock worth $514,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 87.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on UNH. Jefferies Financial Group upgraded UnitedHealth Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $481.00 to $647.00 in a research report on Wednesday, July 17th. Truist Financial reiterated a “buy” rating and issued a $625.00 price objective (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Barclays cut their price objective on UnitedHealth Group from $604.00 to $603.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Bank of America cut their price objective on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, Morgan Stanley cut their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, UnitedHealth Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

UnitedHealth Group Stock Performance

UNH opened at $564.40 on Friday. UnitedHealth Group Incorporated has a 52-week low of $436.38 and a 52-week high of $608.63. The firm has a market capitalization of $521.18 billion, a PE ratio of 36.77, a PEG ratio of 1.65 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.88 and a current ratio of 0.91. The business’s 50-day simple moving average is $582.30 and its 200 day simple moving average is $540.65.

UnitedHealth Group (NYSE:UNH) last released its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.00 by $0.15. The firm had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.56 earnings per share. As a group, sell-side analysts expect that UnitedHealth Group Incorporated will post 27.61 earnings per share for the current fiscal year.

UnitedHealth Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Monday, September 16th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, September 16th. UnitedHealth Group’s payout ratio is 54.72%.

UnitedHealth Group Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.