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UnitedHealth Group Inc UNH

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UnitedHealth Slightly Beats Q3 Expectations and Raises 2021 Outlook; No FVE Change

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

UnitedHealth Group reported third-quarter results that beat market consensus, and management raised 2021 guidance a bit. We do not anticipate changing our fair value estimate significantly, though, since our profit estimates were already within the new outlook range. UnitedHealth shares continue to look moderately rich to us, especially relative to managed-care organization peers that have similar growth trajectories and risk profiles. Like its peers, UnitedHealth's economic moat remains narrow, which recognizes a top-tier position in medical insurance, pharmacy benefits, caregiving services, and analytical tools offset slightly by long-term policy risks in end markets. 

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Company Profile

Business Description

UnitedHealth Group is the largest private health insurance provider in the United States, providing medical benefits to 48 million members across its U.S. and international businesses at the end of 2020. As a leader in employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has obtained massive scale in managed care. Along with its insurance assets, UnitedHealth's continued investments in its Optum franchises have created a healthcare services colossus that spans everything from medical and pharmaceutical benefits to providing outpatient care and analytics to both affiliated and third-party customers.

9900 Bren Road East, UnitedHealth Group Center
Minnetonka, MN, 55343
T +1 952 936-1300
Sector Healthcare
Industry Healthcare Plans
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Aggressive Growth
Employees 330,000