UnitedHealth Profit Soars 23%, Blowing Away Estimates (UNH)

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Health benefits provider UnitedHealth Group Inc.( UNH ) said Tuesday that its third quarter profit jumped 23% from last year on higher revenue, beating analyst estimates.

The Minneapolis-based company reported third quarter net income of $1.28 billion, or $1.14 per share, compared with $1.04 billion, or 89 cents per share, in the year-ago period.

Revenue jumped 9% from last year, to $23.67 billion.

On average, Wall Street analysts expected a much smaller profit of 83 cents per share, on lower revenue of $23.27 billion.

Looking ahead, the company said it expects full-year earnings of $3.85 to $3.95 per share on revenue around $94 billion. Those results would beat analyst estimates of $3.55 and $92.97 billion for the year.

UnitedHealth shares fell 65 cents, or -1.8%, in premarket trading Tuesday.

The Bottom Line
Shares of UnitedHealth Group( UNH ) have a 1.38% dividend yield, based on last night's closing stock price of $36.25. The stock has technical support in the $32 price area. If the shares can firm up, we see overhead resistance around the $42-$43 price levels.

UnitedHealth Group Inc.( UNH ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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