UnitedHealth Group Incorporated (NYSE:UNH) has been making waves in the stock market as one of the top quality stocks to buy according to hedge funds. With 104 hedge fund shareholders in Q1 2024, UnitedHealth Group has been attracting attention for its strong performance and potential for growth.
Analyst Kevin Fischbeck from Bank of America Securities recently reaffirmed his Buy rating on UnitedHealth Group with a price target of $675.00. He highlighted the company’s initiatives for long-term EPS growth, robust value-based care model, and adaptable business strategy. Fischbeck emphasized the company’s effective cost management and ability to maintain target margins, predicting continued growth for UnitedHealth Group.
Despite a recent drop in share price due to concerns over state insurance reimbursements, UnitedHealth Group remains a strong contender in the health benefits provider sector. With a forward P/E of 17, the company is considered undervalued compared to the market, making it an attractive investment opportunity.
Baron Health Care Fund is long-term bullish on UNH shares, expecting around 15% annual returns. The company’s leading position in the health insurance industry across four segments further solidifies its potential for growth and stability.
Overall, UnitedHealth Group ranks 11th among the 13 Best Quality Stocks To Buy, showcasing its strong performance and potential for investors. As the stock market continues to evolve, UnitedHealth Group remains a top choice for those looking to invest in quality stocks with long-term growth potential.