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UnitedHealth overshoots Q3 expectationsINTL

UnitedHealth overshoots Q3 expectations

The second largest health care company in the world by revenue, UnitedHealth Group (UNH), is on that earnings buzz as it posted a 11.1% year-on-year (YoY) increase in revenues – while its net income figures exceeded Wall Street expectations. 

The company primarily offers health insurance products, standing as the largest US health insurer. While Covid-19 drove large increases in insurance revenues for the firm, the company expects the pandemic to have a less pronounced impact on 2022 profits as vaccinations rise. But for now, UnitedHealth’s shareholders are reveling in those gains, as the company saw $1.4b returned to stock owners in the form of dividends – a 16% YoY increase. 

why it matters

UnitedHealth stock has been riding high as it saw a 4.2% increase yesterday - beating out gains seen by other competing healthcare insurance providers like Anthem (ANTM), Humana (HUM), and Centene Corp. (CNC).