UnitedHealth (UNH, $261.81) beats Q2 earnings expectations and raised full-year profit outlook
UnitedHealth Group's earnings for the three months ending in June came in higher than expected, and the company also boosted its full-year profit guidance. However, the company cautioned about a possible miss on 2019 revenue forecasts.
The healthcare company reported adjusted earnings of $3.60 per share for the quarter, which is 15 cents ahead of the Street consensus forecast. The earnings per share figure also reflects a +14.6% increase from the same period last year.
Total revenues of the company rose +8% to $60.6 billion, largely in-line with analysts' estimates.
Looking ahead, UnitedHealth expects its full-year net adjusted net earnings to be in the range of $14.70 to $14.90 per share, which is a small upgrade to the company's prior expectation.
However, CFO John Rex told investors that 2019 revenues would be "at or just slightly below" the forecast range of $243 billion to $245 billion.
UNH sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for UNH moved above the 200-day moving average on July 26, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
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Notable companies
The most notable companies in this group are Unitedhealth Group (NYSE:UNH), Elevance Health (NYSE:ELV), Cigna Group (The) (NYSE:CI), CVS HEALTH Corp (NYSE:CVS), Humana (NYSE:HUM), Centene Corp (NYSE:CNC).
Industry description
Managed healthcare industry focuses on providing health/medical and disability insurance plans, generally intended to reduce the cost of for-profit health care. The insurance products might be provided through employer-paid (fully or partly) insurance and benefit programs, or through Medicare/Medicaid. Some of the largest providers of managed health care include Aetna, Humana Inc., and Cigna, and UnitedHealthcare.
Market Cap
The average market capitalization across the Managed Health Care Industry is 68.32B. The market cap for tickers in the group ranges from 3.42M to 451.47B. UNH holds the highest valuation in this group at 451.47B. The lowest valued company is HRAA at 3.42M.
High and low price notable news
The average weekly price growth across all stocks in the Managed Health Care Industry was 4%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 10%. NEUE experienced the highest price growth at 16%, while ALHC experienced the biggest fall at -6%.
Volume
The average weekly volume growth across all stocks in the Managed Health Care Industry was -11%. For the same stocks of the Industry, the average monthly volume growth was 18% and the average quarterly volume growth was -23%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 41
P/E Growth Rating: 69
Price Growth Rating: 47
SMR Rating: 84
Profit Risk Rating: 65
Seasonality Score: -41 (-100 ... +100)