UnitedHealth (UNH) shares rise today after the company’s financial results for the third quarter beat Wall Street expectations. Revenue came up to $80.89 billion an 11% increase and topping the forecasts of $63.77 billion.
The company’s net income increased to $5.26 billion well above the $4.09 billion UnitedHealth reported in the third quarter last year. UNH earnings increased 28% to $5.79 per share also above the Wall Street consensus of $5.43 per share. The operating costs grew 10% to $73.43 billion in Q3.
The company raised its 2022 Earnings Per Share forecast to a range between $21.85 to $22.05 giving a positive signal to investors and shareholders.
UNH stock is 3.45% higher since the start of the year, while in the last three months has lost 1.94$ of its value. UnitedHealth’s total market capitalization stands at 486.52 billion. The company’s price-to-earnings ratio is at 27.19, and the dividend yield is at 1.27%.
UnitedHealth (UNH) Technical Analysis
The technical picture for UnitedHealth stock has turned bullish today as the price opened above the resistance of the 100-day moving average while it also breached the 50-day moving average. As of writing UNH stock is trading 2.06% higher at $519.94. The bulls will take full control of the stock price if it manages to close above the resistance at the 50-day moving average of $523.91. A break above might drive the price up to 543.19 the top from August 26.
On the other hand, initial support stands at 515.12 the 100-day moving average, a break below would open the way for 504.19 the 200-day moving average strong support level.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).