UnitedHealth Group (NYSE: UNH), the managed healthcare company announced its Q3 results with revenues of $80.9 billion, up 12% year-over-year and surpassing analysts’ estimates by $360 million.
The company’s adjusted earnings came in at $5.79 per share, an increase of 28% year-over-year and exceeding the Street’s expectations of $5.43 per share.
UnitedHealth’s growth in the third quarter ” was driven by continued expansion in the number of people served throughout UnitedHealthcare and in the value-based care initiatives at Optum Health.”
The strong Q3 results also prompted UNH to raise its FY22 net earnings outlook to range from $20.85 to $21.05 per share and adjusted earnings are expected to come between $21.85 and $22.05 per share.
Is United Healthcare Stock a Buy?
Analysts are bullish about UNH with a Strong Buy consensus rating based on 10 Buys and three Holds.
The average price forecast for UNH stock is $594.31 implying an upside potential of 16.5% at current levels.
