UnitedHealth snaps six straight sessions of gains

UnitedHealth Group (NYSE:UNH) shares snapped six straight sessions of gains, as the stock closed 0.2% lower to $590.20 on Friday.

The managed care giant gained over 2% in the preceding six sessions. The stock has gained more than 11% so far this year, compared to the over 17% rise in the broader S&P 500 Index.

Minnetonka, Minnesota-based UNH is up 3% over the past one month. The stock closed 0.5% higher on Thursday at $591.57.

Analysts are mostly bullish on the stock. Looking at the Wall Street community, 26 analysts gave UNH a Buy and above. One analyst has given the stock a Hold recommendation, and no one recommended Sell or lower.

Seeking Alpha analysts are also bullish and see the stock as a Buy.

However, Seeking Alpha’s Quant Rating gave UNH a Hold rating with a score of 3.40 out of 5. The company received A+ in the prospect of profitability, while it got a D- in valuation.

Earlier in July, the company beat Wall Street forecasts with its Q2 2024 results and raised its full-year forecast attributed to cyberattack impact to $1.90 – $2.05 from its previous estimate of $1.15 – $1.35 per share.

“UNH remains in a healthy position compared to peers, with potential upside in earnings and dividends forecasted through 2026 despite election-year risks,” said Seeking Alpha analyst Mike Zaccardi.