UnitedHealth (UNH, Financial) announced its financial results for the second fiscal quarter of 2024, revealing a net profit of $4.216 billion, a decline of 22.98% compared to the previous year. Despite the decrease in profit, the company reported a 6.41% increase in operating revenue, reaching $98.855 billion. Basic earnings per share stood at $4.58.
The balance sheet shows UnitedHealth's total liabilities at $186.822 billion, with short-term debt amounting to $11.371 billion. The company's debt-to-equity ratio is 2.00, and the current ratio is 920.38.
Analyst ratings as of October 16, 2024, indicate that 24 institutions have set target prices for UnitedHealth, with an average target of $630.54. The lowest target price is $591.00, while the highest is $680.00.
UnitedHealth Group, one of the largest private health insurance companies, provides healthcare benefits to approximately 50 million members globally as of June 2024, including 1 million members outside the United States. As a leader in employer-sponsored, self-guided, and government-supported insurance plans, UnitedHealth has achieved significant scale in managed care. In addition to its insurance assets, the company continues to invest in its Optum franchise, creating a healthcare services giant that spans medical and pharmaceutical benefits, outpatient care, and analytics for affiliated and third-party clients.
