UnitedHealth Group (NYSE:UNH) CEO Andrew Witty is set to appear before the House Energy and Commerce Subcommittee on Oversight and Investigation on May 1st to discuss the February cyberattack on Change Healthcare, a UnitedHealth subsidiary. This cyberattack hit hard, especially hurting individuals and small healthcare providers by putting critical patient care at risk due to financial strains. The hearing aims to dig into what went wrong and the steps taken since the cyberattack.
However, the cyberattack appeared to have minimal impact on UNH’s earnings report as figures beat expectations. This has caused the stock to rally over 12% over the past five days, which continued into today’s session.
Is UNH Stock a Buy, Sell, or a Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on UNH stock based on 15 Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. After a 4.5% year-to-date decline, the average UNH price target of $591.29 per share implies 17.76% upside potential.
UNH also pays out a quarterly dividend, which yields 1.49%. This is in line with the healthcare sector (XLV) average.
Is UNH the Right Stock to Buy for Passive Income?
Before you hurry to invest in UNH, think about the following:
TipRanks’ team has built a Smart Dividend Stock Portfolio for investors, and UnitedHealth is not included. Our portfolio highlights companies that have been hand-picked for their potential to deliver significant passive income for years to come.
