UnitedHealth Group Incorporated (UNH) reported strong quarterly profit and also raised its full-year earnings, boosted by strong growth in its Optum unit that manages drug benefits. Spending on medical services at the company’s health insurance business, UnitedHealthcare, regained in the latter part of last year due to Covid-19 testing and treatment-related customer assistance measures, after patients and hospitals had delayed care due to the pandemic.
Quarter Highlights Ending June 30:
- The company reported a medical loss ratio (the percentage of collected premiums spent on medical services) of 82.8% compared to 70.2% a year earlier, analysts were expecting 83.08%.
- Revenue from UnitedHealth’s Optum unit, which manages drug benefits and offers healthcare data analytics services, rose 17.2% to $38.3 billion.
- UnitedHealth reported adjusted earnings of $4.70 per share, beating estimates of $4.43 per share.
- The company raised its full-year profit target for the second time this year, and now expects adjusted earnings of $18.30 to $18.80 per share in 2021, compared with its previous forecast of $18.10 to $18.60. The forecast takes into account a potential negative impact of $1.80 per share related to Covid-19 costs.
If you liked this story please consider, visiting the Atossa Therapeutics (ATOS) dedicated page at Vista Partners to learn about the Seattle-based biotech firm’s work towards finding therapeutic treatments for Breast Cancer and the Coronavirus.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.