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MarketScreener Homepage  >  Equities  >  Nyse  >  UnitedHealth Group    UNH

UNITEDHEALTH GROUP

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UnitedHealth : Profit Declines, Reflecting Return to More Usual Health-Care Levels

10/14/2020 | 12:23pm EST

By Anna Wilde Mathews and Matt Grossman

UnitedHealth Group Inc.'s profit declined after outsize results in the previous quarter, as health care returned closer to normal levels after a dramatic pandemic-related pause in the spring and early summer.

Minnetonka, Minn.-based UnitedHealth, the parent of the largest U.S. insurer, UnitedHealthcare, as well as a sprawling health-services arm under the Optum name, said its third-quarter results were affected by the cost of efforts to help customers. The company pointed to waivers of copayments for Medicare Advantage enrollees and some premium discounts. UnitedHealth and other insurers have come under pressure from some regulators and lawmakers to disburse some of the profit they realized from the falloff in routine health care earlier this year.

The company logged a continued decline in commercial membership, to 26.35 million in the third quarter from 25.77 million in the second quarter and 27.84 million in the year-ago period, reflecting the loss of some employer-based insurance during the economic downturn.

UnitedHealth said it had seen declines in sectors including transportation, hospitality and energy. But it said it didn't believe growing enrollment in its Medicaid plans stemmed from people signing up after job losses.

The company reported third-quarter net income of $3.17 billion, or $3.30 a share, compared with $3.54 billion, or $3.67 a share, in the same three-month period a year earlier.

In the second quarter of 2020, UnitedHealth posted net income of $6.64 billion, or $6.91 a share, and adjusted earnings were $7.12 a share.

On an adjusted basis, UnitedHealth's third-quarter profit was $3.51 a share. Analysts surveyed by FactSet had forecast an adjusted profit of $3.11 a share. Revenue was $65.12 billion, up 7.9% from $60.35 billion in last year's third quarter.

In the spring and early summer, UnitedHealth's insurance unit benefited financially from cost savings as it paid for fewer doctor visits, surgeries and hospital stays this spring and early in the summer. Hospitals and other health-care providers stopped many procedures as they braced for surges of coronavirus patients, and many Americans steered clear of clinics and emergency rooms.

Hospital inpatient costs and other types of care picked back up in the quarter. Health-care activity was at more than 95% of typical baseline rates, UnitedHealth said. The insurance unit's medical-loss ratio, or the share of premiums paid out in claims, was 81.9% in the third quarter, compared with 70.2% in the second.

UnitedHealth raised its guidance for full-year adjusted 2020 earnings to a range $16.50 to $16.75 a share, from $16.25 to $16.55 previously.

Write to Anna Wilde Mathews at anna.mathews@wsj.com and Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

10-14-20 1222ET

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Financials (USD)
Sales 2020 254 B - -
Net income 2020 15 372 M - -
Net Debt 2020 23 000 M - -
P/E ratio 2020 21,3x
Yield 2020 1,40%
Capitalization 324 B 324 B -
EV / Sales 2020 1,37x
EV / Sales 2021 1,24x
Nbr of Employees 325 000
Free-Float 99,4%
Chart UNITEDHEALTH GROUP
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UnitedHealth Group Technical Analysis Chart | UNH | US91324P1021 | MarketScreener
Technical analysis trends UNITEDHEALTH GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 27
Average target price 382,32 $
Last Close Price 341,19 $
Spread / Highest target 33,1%
Spread / Average Target 12,1%
Spread / Lowest Target -3,57%
EPS Revisions
Managers
NameTitle
David Scott Wichmann Chief Executive Officer & Director
Andrew Philip Witty Group President
Stephen J. Hemsley Chairman
John Franklin Rex Chief Financial Officer & Executive Vice President
Richard J. Migliori Chief Medical Officer & EVP-Medical Affairs
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